RBI Report on State Finances: Fiscal Health and Challenges for 2024-25
| Key Point | Details |
|---|---|
| Report Title | "State Finances: A Study of Budgets of 2024-25" |
| Gross Fiscal Deficit (GFD) | Budgeted at 3.2% of GDP for 2024-25; contained within 3% during 2022-23 and 2023-24. |
| Revenue Deficit | Maintained at 0.2% of GDP during 2022-23 and 2023-24. |
| Capital Expenditure | Increased from 2.4% of GDP in 2021-22 to 2.8% in 2023-24; budgeted at 3.1% for 2024-25. |
| Outstanding Liabilities | Declined to 28.5% of GDP by March 2024 (from 31% in March 2021) but remains above pre-pandemic levels (25.3% in 2019). |
| Contingent Liabilities | State guarantees rose to 3.8% of GDP by March 2023 (from 2% in March 2017). |
| Subsidy Expenditures | ₹2 lakh crore (0.6% of GDP) allocated for income transfer schemes for women by 14 states. |
| Power Sector Losses | Accumulated losses of power distribution companies stand at ₹6.5 lakh crore (2.4% of GDP) as of 2022-23. |