States' fiscal deficit steeply falls by 25% in FY18, says ICRA report
Updated : June 18, 2018 08:51 AM IST
Thirteen states have reported an average 25 percent decline in their fiscal deficit primarily due to a contraction in capital outlay, even though their revenue has gone up by 7.5 percent in the fiscal year to March 2018.
However, in FY17, their revenue had gone up by 11.5 percent, says a report by domestic credit rating agency ICRA, based on the provisional fiscal data given by the CAG of 13 states.
Fiscal deficit of these 13 states sharply fell by 25.1 percent to Rs 3.2 trillion in FY18 from Rs 4.3 trillion in FY17, partly on account of the contraction in capital spending.
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