The development objective of the project is to improve the effectiveness of service delivery by K... more The development objective of the project is to improve the effectiveness of service delivery by Karnataka Gram Panchayats (village governments) particularly with respect to the management of public resources and the delivery of relevant services that the rural people prioritize. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Block grants to Gram Panchayats 93.82 Information Systems for Constituents 1.30 Building Capacity of Panchayats 7.30 Building Capacity of the State 1.65
World Bank Policy Research Working Paper No. …, 2004
India's growth performance has been impressive over the last two decades. But its sustainability ... more India's growth performance has been impressive over the last two decades. But its sustainability has been in question, first with the 1991 fiscal-balance of payments crisis (BoP), and then again after 1997/98, when fiscal deficits returned to the 10 percent of GDP range and government debt grew. This paper analyzes the deterioration in India's public finances and presents evidence suggesting that, in the absence of a fiscal adjustment, low inflation and high reserves may have been pursued at the expense of long-run growth and poverty reduction. Resolving this inflationexternal vulnerability-growth policy trilemma requires fiscal adjustment. In making its case, the paper shows, first, that fiscal fundamentals have weakened after 1997/98 even when compared with the pre-1991 crisis period. This has continued in spite of the recent record lows in interest rates. Second, the fiscal stance is not conducive to long-run growth and poverty reduction because capital spending has been cut to accommodate higher interest payments and other current spending, with expenditures on the social sectors stagnating. Third, without a fiscal adjustment, the debt burden is likely to reach unmanageable levels by the end of the Tenth Plan period. In contrast, a phased adjustment beginning now and focusing on a relatively small set of reforms is likely to improve debt dynamics substantially over the same horizon, while also promoting faster growth and poverty reduction.
... BRIAN PINTO, FARAH ZAHIR ... The implied value for (rg) itself can be obtained through approp... more ... BRIAN PINTO, FARAH ZAHIR ... The implied value for (rg) itself can be obtained through appropriate solution from the standard debt difference equation and this ... No, for the fol-lowing reasons: - Low interest rates stem from weakness in the global economy and capital inflows, not ...
The development objective of the project is to improve the effectiveness of service delivery by K... more The development objective of the project is to improve the effectiveness of service delivery by Karnataka Gram Panchayats (village governments) particularly with respect to the management of public resources and the delivery of relevant services that the rural people prioritize. Has the Project Development Objective been changed since Board Approval of the Project? Yes No Component(s) Component Name Component Cost Block grants to Gram Panchayats 93.82 Information Systems for Constituents 1.30 Building Capacity of Panchayats 7.30 Building Capacity of the State 1.65
World Bank Policy Research Working Paper No. …, 2004
India's growth performance has been impressive over the last two decades. But its sustainability ... more India's growth performance has been impressive over the last two decades. But its sustainability has been in question, first with the 1991 fiscal-balance of payments crisis (BoP), and then again after 1997/98, when fiscal deficits returned to the 10 percent of GDP range and government debt grew. This paper analyzes the deterioration in India's public finances and presents evidence suggesting that, in the absence of a fiscal adjustment, low inflation and high reserves may have been pursued at the expense of long-run growth and poverty reduction. Resolving this inflationexternal vulnerability-growth policy trilemma requires fiscal adjustment. In making its case, the paper shows, first, that fiscal fundamentals have weakened after 1997/98 even when compared with the pre-1991 crisis period. This has continued in spite of the recent record lows in interest rates. Second, the fiscal stance is not conducive to long-run growth and poverty reduction because capital spending has been cut to accommodate higher interest payments and other current spending, with expenditures on the social sectors stagnating. Third, without a fiscal adjustment, the debt burden is likely to reach unmanageable levels by the end of the Tenth Plan period. In contrast, a phased adjustment beginning now and focusing on a relatively small set of reforms is likely to improve debt dynamics substantially over the same horizon, while also promoting faster growth and poverty reduction.
... BRIAN PINTO, FARAH ZAHIR ... The implied value for (rg) itself can be obtained through approp... more ... BRIAN PINTO, FARAH ZAHIR ... The implied value for (rg) itself can be obtained through appropriate solution from the standard debt difference equation and this ... No, for the fol-lowing reasons: - Low interest rates stem from weakness in the global economy and capital inflows, not ...
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