Fiscal deficit of states to hit a peak of Rs 8.7 lakh crore or 4.7 per cent of their GDP

Tax collections may slowly recover with improving economic outlook, Crisil said. However, higher interest burden because of high debt funding of this year’s fiscal deficit, coupled with sticky revenue expenditures, may keep revenue deficits high for states and GFD composition skewed over the next 2-3 years.

from Economy-News-Economic Times https://ift.tt/2XZdl01