Analysing Indian State’s macro-fiscal health
Introduction India’s federal system depends heavily on States for delivering core welfare, infrastructure, and development. For much of the 2000s, reforms and tax buoyancy allowed States to report surpluses, better spending, and healthier balance sheets. However, the COVID-19 pandemic marked a turning point: revenues plummeted while emergency spending skyrocketed, forcing States into unprecedented borrowing. The… Continue reading Analysing Indian State’s macro-fiscal health

