States slash expenditure, grow tax base

Unless their budget numbers go for a complete toss, the good news coming out of the state government data is the manner in which states are controlling their deficits. Combined fiscal deficits, RBI’s latest report on state finances points out, are set to fall from 2.3% of GDP in FY13 to 2.2% in FY14—for the non-special category states, the fall will be from 2.6% to 2.4%.

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