Indian states must set glide path for fiscal consolidation, says central bank report

The Reserve Bank of India (RBI) urged Indian states to implement fiscal consolidation plans with transparent reporting of liabilities, given high debt levels. The RBI highlighted concerns about rising subsidy spending and recommended expenditure efficiency. While states’ liabilities decreased, they remain above pre-pandemic levels, necessitating a clear debt consolidation roadmap.

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *