An analysis of State Budgets for FY24 by Bank of Baroda Research finds that only three States have debt-to-GSDP ratio below the FRBM norm of 20%. The higher debt level results in more interest outgo and stretches State finances further. Contingency liabilities in the form of guarantees given by States are another pain point for some.
Are States piling more debt than they can handle?
Published on
September 6, 2023 01:59
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