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Indian states asked the finance ministry for greater budgetary autonomy and fiscal space, officials said after a budget consultation meeting in New Delhi on Friday.
The fiscal deficit limit should be set at 4% of gross state domestic product (GSDP) for states and borrowing limits should be increased, Vijay Kumar Choudhary, finance minister of the state of Bihar, said after the meeting.
The government fixes the permissible budget gap. It was set at 3.5% of GSDP for 2022-23, with some extra room given to states who meet certain conditions.
States also need approval for their plans to borrow from the
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