State Finances Deteriorated In 2001-02

Finances of state governments have shown a deterioration in 2001-02 as against an improvement in the preceding fiscal.

Gross fiscal deficit in 2001-02 increased by 19.1 per cent to Rs 1,06,595 crore (representing 4.6 per cent of the GDP) over the previous year.

The revenue deficit, that stood at Rs 60,540 crore, was higher by 13 per cent over the previous year. Primary deficit also increased 11.3 per cent in 2001-02 over the preceding fiscal.

Revenue receipts rose to Rs 2,70,901 crore