Chennai, Aug 26 (TIWN) A majority of Indian states have budgeted to meet the fiscal deficit target of 3.61 per cent from 3.71 per cent in FY22 revised estimates (RE), as per a report from Bank of Baroda.

The bank’s economist studied the finances of 21 major Indian states.  In FY23BE, the 21 states analysed have budgeted to meet the fiscal deficit target of 3.61 per cent, down from 3.71 per cent in FY22RE. Revenue deficit is expected to come down to 0.6 per cent from 1 per cent in FY22RE, and primary deficit is expected to remain broadly steady at 1.38 per cent versus 1.44 per cent in FY22RE, the report notes.  In case of fiscal deficits, nine states – Himachal Pradesh, Madhya Pradesh, Telangana, Andhra Pradesh, West Bengal, Karnataka, Uttarakhand, Odisha and Gujarat – expect the deficit to go up in FY23 compared with FY22.