States' fiscal deficit increased by 2,525% to â¹4.93 lakh cr
The gross fiscal deficits of states soared from â¹18,790 crore in fiscal 1991 to over â¹4.93 lakh crore in fiscal 2016, marking a 2,525% increase, according to RBI data. The gap is projected to improve to â¹4.49 lakh crore for fiscal 2017. Notably, Rajasthan saw its fiscal deficit rise by 12,372% from â¹540 crore to â¹67,350 crore during the period.