NDLI: Adapting fiscal policies to slower tax revenues

Content Provider	OECD iLibrary
Organization	OECD
Abstract	In recent years, budget outcomes have tended to be better than expected, reflecting dynamic revenues and slightly stronger-than-anticipated growth in spending. As a result, the current fiscal position is better than in many other OECD countries. In the short-term, the mildly expansive fiscal stance is appropriate in view of the deteriorating economic outlook. On the other hand, the already substantial estimate of the fiscal sustainability gap is being revised upwards, reflecting updated OECD estimations of future health care spending. Addressing the gap requires a broadbased strategy, including prefunding, contribution base broadening, and controlling ageing-related costs. Particularly important is early action to avoid a snowball effect in public debt. To improve the link between short-term budget developments and long-term fiscal challenges, the government should strengthen the framework for fiscal policy, including a clearer separation between statistics compilation, macroeconomic projections and budget preparation, and introduce multi-year spending ceilings. Future tax revenues will be less dynamic, which requires an improvement in public sector efficiency to maintain present public service standards.
Page Count	26
Starting Page	75
Ending Page	95
Language	English
Publisher	OECD Publishing
Publisher Date	2008-07-01
Access Restriction	Open
Subject Keyword	Economics
Content Type	Text
Resource Type	Chapter

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

Adapting fiscal policies to slower tax revenues