Improve rules for fiscal regime: RBI

.....The Indian experience, according to the report, suggested that fiscal rules, though necessary, weren’t sufficient to optimise the outcomes of the fiscal-monetary co-ordination. In this context, the report felt that the rules for fiscal regime could be improved by focusing on structural deficit, adopting broader definition of both deficit and debt to cover quasi-fiscal activities and removing ambiguity on exceptions by including expenditure rules to deficit rules.......

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