Global Debt & Fiscal Silhouette rising! Do Elections contribute to fiscal slippages?

Besides gargantuan spending on social benefits, subsidies and direct transfers to support people impacted by the pandemic, energy price shocks have further debilitated the fiscal health of exchequers across the world. To deal with the growing debt stress, the IMF and the World Bank are trying to ham...

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Bibliographic Details
Published inTax India Online
Main Authors Kumar, Shailendra, Founder Editor
Format Trade Publication Article
LanguageEnglish
Published Mumbai Athena Information Solutions Pvt. Ltd 02.05.2024
Subjects
Economic growth
Elections
External debt
Fiscal policy
GDP
Global economy
Gross Domestic Product
Interest rates
Pandemics
Subsidies
Tax rates
United Kingdom > UK
United States > US
China
India
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Summary:Besides gargantuan spending on social benefits, subsidies and direct transfers to support people impacted by the pandemic, energy price shocks have further debilitated the fiscal health of exchequers across the world. To deal with the growing debt stress, the IMF and the World Bank are trying to hammer out some affordable schemes, including debt-forgiveness gestures, but what painfully complicates such Western efforts is the Chinese stubbornness to stall them. [...]India's external debt is not that back-breaking - only USD 635 billion.