Public Finance and Fiscal Policy — Mains Questions

Critically analyze the effectiveness of fiscal policy in achieving inclusive and sustainable economic growth in India. What are the key challenges and potential reforms?

Examine the evolution of Centre-State financial relations in India, particularly in the context of the Goods and Services Tax (GST) and the recommendations of recent Finance Commissions. What are the emerging issues in fiscal federalism?

Discuss the various types of government deficits in India and their implications for macroeconomic stability and public debt sustainability. How does the Fiscal Responsibility and Budget Management (FRBM) Act address these concerns?

The government's disinvestment policy has evolved significantly over the years. Critically evaluate its objectives, achievements, and challenges in the Indian context. What are the future prospects?