Editorial & Words:The other debt issue

Posted on 18-May-2017

The other debt issue: on the States' finances

For the first time in 11 years, in 2015-16 the combined fiscal deficit of India’s 29 States as a proportion of the size of their economies breached the 3% threshold recommended as a fiscally prudent limit by successive Finance Commissions. The Reserve Bank of India has warned that the States’ expectation to revert to the 3% mark in their 2016-17 Budgets may not be realised, based on information from 25 States. While the Central government has projected a fiscal deficit of 3.2% of GDP for this year, States expect to bring theirs down further to 2.6% — still higher than the average of 2.5% clocked between 2011-12 and 2015-16. Whichever way read more...

List of words with well explained meaning

S/N Word Meaning
1 Fiscal deficit When government, earning (revenue) is less than the amount it spent.read more...
2 Threshold A point after that something will start showing the effect.
3 Prudent To be careful to avoid any future risk
4 Revert Reply back to someone
5 Steady gains Continuous development or profit
6 Unravelling Solving problem or ravelling the mistry; unknot,untie,undo
7 Dent Reduce like You can not dent his reputation.
8 Elusive Something is so difficult that is hard to understand or describe.
9 Bolstering To make something strong through structural support
10 Expenditure Expenses
11 Irrigation Supply of water to make crops healthy
12 Solvent Having enough money to pay someone's debt;substance which is having the quality to dissolve another substance easily
13 Tepid economic growth Showing slow economic progress; tepid means showing less interest or enthusiasm.
14 Levy Imposing or charging tax or fee on total amount.
15 Regime Authority, system;
16 Anomaly Deviation from standard;Irregularity or Inconsistency
17 Boisterous Energetic and vibrant
18 Ad hoc For a specific purpose

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