💨 Abstract

The State Bank of India report indicates a general decline in the fiscal stability of states, despite a significant 59.9% tax transfer from the Centre. Regional imbalances are highlighted due to differences in states' capacity to manage their local economies. The report suggests expenditure prioritization and greater devolution of financial resources to lower levels of government for improved public service delivery. Total financial transfer from the Centre to the states amounts to Rs 25.6

Courtesy: theprint.in

Summarized by Einstein Beta 🤖