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The Reserve Bank of India recently released its report on “State Finances: A Study of Budgets of 2021 – 22”. According to the report, the combined debt – to – GDP ratio of states is to remain at 31% till March 2022. This is worrying as the set target was 20%.
Why did the revenue decrease?
As the densely populated cities and districts emerged as hotspots, the local governments faced shortage in revenue. They were severely affected during the second wave of the pandemic.
By: Brijesh Kumar ProfileResourcesReport error
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