Stress in State finances
Global rating agencies and multilateral institutions look at India’s fiscal situation as a whole, including state finances. But most states are spending more than they earn, thus expanding their revenue deficits. The outlay for revenue expenditure and dependence on Central assistance is also too high
Global rating agencies and multilateral institutions look at India’s fiscal situation as a whole, including state finances. But most states are spending more than they earn, thus expanding their revenue deficits. The outlay for revenue expenditure and dependence on Central assistance is also too high
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