What is the suggestion made by N.K. Singh regarding fiscal accountability How can it be implemented
N.K. Singh moots market discipline link for fiscal accountability. Implementation involves integrating market mechanisms with fiscal policies.
N.K. Singh suggests incorporating market discipline into fiscal accountability to ensure prudent financial management. This can be implemented by:
- Creating a transparent fiscal framework that allows market forces to influence borrowing costs.
- Implementing strict debt management policies to prevent overspending and maintain fiscal discipline.
- Encouraging the private sector to participate in government borrowing by issuing bonds and securities.
- Regularly monitoring and reporting on fiscal performance to uphold transparency and accountability.
- Establishing an independent fiscal council to assess government policies and provide guidance on fiscal sustainability.
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a year ago