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The
declared aims of the Planning Commission's Approach
to the XIth Plan, all of which require substantially
increased public expenditure in physical infrastructure
and social sectors, simply cannot be met within the
confines of a restrictive fiscal policy stance. The
need to rethink policies of resource generation and
financial regulation is therefore urgent. In this context,
this paper, presented to the National Commission on
Enterprises in the Informal Sector, seeks to examine
the effects of the three perceptions underlying the
prevailing fiscal conservatism, questions their validity
and offers some alternatives for mobilising resources
for development. |
