{"id":115428,"date":"2023-12-12T15:28:36","date_gmt":"2023-12-12T09:58:36","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=115428"},"modified":"2023-12-12T15:28:41","modified_gmt":"2023-12-12T09:58:41","slug":"rbi-report-states-finances-improved-for-the-second-consecutive-year","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/rbi-report-states-finances-improved-for-the-second-consecutive-year\/","title":{"rendered":"RBI report: State\u2019s finances improved for the second consecutive year \u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3457107544\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>A report titled \u201cState Finances: A Study of Budgets of 2023-24\u201d, released by the Reserve Bank of India (RBI) is an annual publication that provides information, analysis, and an assessment of the finances of State governments for 2023-24.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2658722264\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The report mentioned that the improvements by the state in their finances in the financial year 2021-2022, were sustained even in the current financial year 2022-2023. The State\u2019s combined gross fiscal deficit (GFD) stood at 2.8 percent of the gross domestic product (GDP). <\/p><p>This figure is below the budget estimate for the second consecutive year. The States anticipate prudent fiscal management for 2023-24, with the consolidated GFD budgeted at 3.1 percent of GDP.\u00a0<\/p><p>\u201cThe implementation of goods and services tax (GST) has led to increased tax buoyancy for the states,\u201d the report said.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2056161618\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The state\u2019s total outstanding liabilities are budgeted to be at 27.6 percent of GDP for 2023-24, from 31 percent in 2020-21.&nbsp;<\/p><p>The growth of revenue expenditure slowed to 8.9 percent, thus creating room for higher capital outlay. The capital outlay surged during the first half of the current financial year by 52.6 percent. It was supported by the Centre\u2019s scheme and assistance to the states for capital investment.&nbsp;<\/p><p>While the overall tax efforts of the States are strong, further improvement in tax revenues will require them to strengthen their tax capacity, including through tax reforms and effective and innovative tax administration.&nbsp;<\/p><p><strong>Written by Nalin Suriya S<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-525341039\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>A report titled \u201cState Finances: A Study of Budgets of 2023-24\u201d, released by the Reserve Bank of India (RBI) is an annual publication that provides information, analysis, and an assessment of the finances of State governments for 2023-24.&nbsp; The report mentioned that the improvements by the state in their finances in the financial year 2021-2022, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":23873,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-115428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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