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Good fiscal performance by States should be incentivized to keep the overall fiscal performance on track: Economic Survey 2016-17 Centre should take the lead in sound fiscal management suggests Economic Survey

Budget - Dated:- 31-1-2017 - Press Information Bureau Government of India Ministry of Finance 31-January-2017 13:03 IST The Economic Survey 2016-17 presented in the Parliament today has highlighted the need for fiscal prudence both by the Centre as w .....

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States. As per the Economic Survey, there has been an improvement in the financial position of the States over the last few years. The average revenue deficit has been eliminated, while the average fiscal deficit was curbed to less than 3 percent of .....

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the improvement in fiscal variables: I. The deficit reduction owes much to favorable exogenous factors (see Figure 1): · An acceleration of nominal GDP growth (of 6 percentage points on average after 2005) helped boost States revenues by abou .....

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cent of GSDP on account of the debt restructuring package offered by the Centre; and · Reduced need for spending by the States-estimated at about 1.2 percent of GDP-as the Centre took on a number of major social sector expenditures under the C .....

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e the revenue surge, non interest revenue expenditure rose by only 0.4 percent of GSDP. II. Off-budget expenditures fell, as measured by the flow of explicit guarantees and loans to public utilities fell. III. There was a sharp drop in the magnitude .....

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