​State Finances: A Study of Budgets of 2024-25

On 19th December 2024, the Reserve Bank of India (RBI) released the Report “State Finances: A Study of Budgets of 2024-25”.

  • The theme of the Report is “Fiscal Reforms by States”.

Major Highlights

  • State Consolidated Gross Fiscal Deficit (GFD): State governments contained their GFD within 3 per cent of gross domestic product (GDP) and their revenue deficit at 0.2 per cent of GDP during 2022-23 and 2023-24.
  • Improvement in the Quality of Expenditure: The improvement in the quality of expenditure was sustained, with capital expenditure rising from 2.4 per cent of GDP in 2021-22 to 2.8 per cent in 2023-24 ....

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