New Delhi, June 5 (TIWN) While the low-income states, like Bihar, have done well on the overall fiscal performance index (FPI) over the years, high-income states, such as Maharashtra, Gujarat and Haryana, figure among laggards, says a Confederation of Indian Industry (CII) discussion paper.

According to the paper, while Bihar has been the top performing state on FPI over the years, aided by improvement on all its component indices, it's followed by Madhya Pradesh and Chhattisgarh.

The importance of state fiscal operations relative to size of central finances have steadily increased in recent years. The implementation of the goods and service tax (GST) last year has only intensified the focus on state finances, it says.