GOVERNMENT
OF INDIA
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GOVERNMENT
OF INDIA
Fiscal deficit is the difference between the government expenditures and its revenues (excluding the money it borrowed).
In 2012-13, The fiscal deficit of the States stood at 2.5 per cent of GDP of India ,which is well below the limits set by the Thirteenth Finance Commission (3%), whereas Combined fiscal deficit (Centre and States taken together) of 8.4 per cent of the GDP was very high.
During 1999-2013, Fiscal deficit of States declined from 4.5% to 2.5% and Combined fiscal deficit (Centre and States taken together) declined from 9% to 8.4%. During this period, combined Fiscal deficit attained its maximum value of 9.41% in 2009-10 and minimum value of 5.1% in 2006-07. During 1999-2013, State Fiscal deficit attained its minimum value of 1.51% in 2007-08.