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Statsguru: Worsening state finances

Since coming to power, the NDA government has committed itself to fiscal prudence

Ishan Bakshi  |  New Delhi 

Since coming to power, the National Democratic Alliance government has committed itself to fiscal prudence by bringing the fiscal deficit down from 4.1 per cent of gross domestic product (GDP) in FY15 to a target of 3.2 per cent in FY18. But, state governments have gone the other way.  After declining from a peak of 3.01 per cent of GDP in 2009-10, state fiscal deficits now seem to be inching up. As a consequence, the decline in general government deficits as seen in Chart 1 is largely because of the Centre reining in its deficits.  The situation is unlikely to ...

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First Published: Mon, April 10 2017. 01:43 IST
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