States to sustain capex focus with improved fiscal space: Ind-Ra report
India Ratings and Research (Ind-Ra) maintains a neutral outlook on Indian states' finances for FY25, with a projected aggregate revenue deficit of 0.4% of GDP, down from 0.5% in FY24. Fiscal deficit for FY25 is expected to decrease to 3.1% of GDP. The report highlights containment of revenue deficits, enabling states to focus on capital expenditure.
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