Fiscal Crisis In India - Indicators, Causes and Consequences

What is Fiscal Crisis ?
The fiscal imbalance takes place when the government expenditure exceeds government revenue. This fiscal imbalance is also refered as the fiscal crisis.In 1980, the growing burden of non-development expenditure caused deterioration in the fiscal situation of India. Later this resulted in a fiscal crisis at the beginning of 1991-1992.
Indicators of Fiscal Crisis ↓
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