State Government Budgets- RBI Report Highlights
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While much of the recent public debate focuses on the upcoming Union government budget, it mustn’t be forgotten that state governments’ budgets account for a significant portion of the general government spending. Recently, the RBI brought out a report on the state government budgets.
What are the report’s highlights?
The ‘State Finances: A Study of Budgets of 2022-23’ released by the RBI takes a look at the state governments’ finances and how they have changed in the post-pandemic period. Some of the key observations of the report:
- While the state finances saw a marked deterioration in 2020-21, the latest RBI report shows that things are looking up.
- In 2020-21, the consolidated fiscal deficit of the states rose to 4.1% of GDP- the hi
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