By Reuters Jan 21, 2019 1:12:44 PM IST (Published)
Follow real-time updates on Union Budget 2023Catch exclusive videos on Union Budget 2023 from CNBC-TV18
The aggregate budget deficit of Indian states is estimated to increase to 3.2 percent of gross domestic product in the next financial year beginning April, compared with 2.8 percent estimated for the current year, Devendra Pant, chief economist of India Ratings and Research, said.
The cumulative fiscal deficit of Indian states is expected to rise following the announcement of farm support packages ahead of national elections due by May, India Ratings and Research, the Indian arm of Fitch Ratings, said on Monday.
Recommended Articles
View All
Budget 2023 — Let the opposition use today's session effectively sans typical disruption tactics
Feb 1, 2023 IST5 Min(s) Read
Budget 2023: From improved GST structure to inverted duty reforms, the EV sector want a mega growth push
Jan 31, 2023 IST3 Min(s) Read
India's Economic Survey shifts the narrative to 'quality of life'
Jan 31, 2023 IST3 Min(s) Read
Budget 2023: Prioritising defence and innovation
Jan 31, 2023 IST4 Min(s) Read
The aggregate budget deficit of Indian states is estimated to increase to 3.2 percent of gross domestic product in the next financial year beginning April, compared with 2.8 percent estimated for the current year, Devendra Pant, chief economist of India Ratings and Research, said.
"The competitive populism, in the nature of farm loan waivers and other financial support schemes, is hitting the capital spending and state finances," he said.
($1 = 71.3690 Indian rupees)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!