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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 well as the States in order to maintain overall fiscal health of the economy. The Economic Survey states that the Centre s Fiscal Responsibility and Budget Management (FRBM) Act, was mirrored by Fiscal Responsibility Legislations (FRL) adopted in the .....

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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 about 1 percent of GSDP; · Increased transfers from the centre of about 1 percent of GSDP both because of the 13th Finance Commission recommendations and the surge in central government revenues; · Reduced interest payments of about 0.9 per .....

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