Is India's public debt sustainable?

Krishanu Pradhan

No 311, Working Papers from Institute for Social and Economic Change, Bangalore

Abstract: The paper assesses the sustainability of public debt in India based on historical time series data on non-monetized liabilities/GDP, revenue/GDP and expenditure/GDP of combined Union and State governments. The assessment based on unit root analysis of non-monetized liabilities/GDP, and co-integrating analysis of expenditure/GDP and revenue/GDP shows the sustainability of public debt, mainly on account of accelerating GDP growth, lower cost of government borrowing, favorable currency composition and longer maturity profile of debt.

Keywords: Public; debt (search for similar items in EconPapers)
Pages: 16
Date: 2014
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Citations: View citations in EconPapers (3)

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