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12 July 2018
 |
RBI
(The Total Investment & Insurance Solutions)
Fiscal pressures are emerging for several
states on the expenditure side, under committed heads, said a Reserve Bank of
India (RBI) report, released here on Thursday. The Total Investment & Insurance Solutions
Entitled "State Finances: A Study of
Budgets of 2017-18 and 2018-19", the report is an annual publication that
provides information, analysis and an assessment of the finances of state
governments.The Total Investment &
Insurance Solutions
"Visible
fiscal pressures are emerging for several states on the expenditure side,
particularly under the committed heads and other state-specific schemes like
agricultural debt waivers," the RBI said.
According
to the report, in 2018-19, states' revenue capacity is likely to be augmented
with the stabilization of Goods and Services Tax (GST) and the consequent
expansion of tax base and efficacy.
"With
the implementation of the E-way bill for inter-state movement of goods from
April 2018, states could also strive for generating more revenues by locking in
efficiency in tax administration," the report said.
If the
revenue receipts of the states end up again in shortfall relative to budgeted
levels, then better fiscal marksmanship and efficiency of expenditure is needed
for providing robustness to state finances, it added.
While
states' consolidated gross fiscal deficit (GFD) overshot the budget estimates
in 2017-18 due to shortfalls in own tax revenues and higher revenue
expenditure, for 2018-19, states have budgeted for a correction, mainly
emanating from a modest revenue surplus.The
Total Investment & Insurance Solutions
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