International Monetary Fund. External Relations Dept.
India has emerged as one of the leading economic forces in the world. How can the country sustain high growth rates, while facing large fiscal deficits and debt, rural poverty, and underdeveloped infrastructure? Wanda Tseng, mission chief for India and Deputy Director, and Jerald Schiff, Division Chief for India, both of the IMF’s Asia and Pacific Department, spoke with Conny Lotze of the IMF Survey.
This report assesses the Observance of Standards and Codes on Fiscal Transparency for the Islamic Republic of Iran. Since the enactment of the five-year Development Plan covering 2000–04, the authorities have taken a number of steps to enhance fiscal transparency, especially with respect to the budget process. Important recent actions include eliminating implicit exchange rate subsidies, budgetizing other implicit subsidies including those associated with price controls, and adopting contemporary budget classification standards. The audit framework for the public sector has a robust legal framework and follows international auditing standards.