States' fiscal deficit increased by 2,525% to ₹4.93 lakh cr
The gross fiscal deficits of states soared from ₹18,790 crore in fiscal 1991 to over ₹4.93 lakh crore in fiscal 2016, marking a 2,525% increase, according to RBI data. The gap is projected to improve to ₹4.49 lakh crore for fiscal 2017. Notably, Rajasthan saw its fiscal deficit rise by 12,372% from ₹540 crore to ₹67,350 crore during the period.