The case for states to adopt fiscal reforms | Hindustan Times
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Mon, Dec 29, 2025
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International financial institutions and markets take into cognisance the fiscal performance of the “general government”. (Bloomberg)

The case for states to adopt fiscal reforms

India's economic growth rate reached 8.2%, but sustaining this requires macroeconomic stability and reforms in fiscal federalism. Past missed opportunities, including incomplete reforms post-1991, highlight the need for a cohesive fiscal strategy across both central and state governments. The focus should shift from central deficits to comprehensive debt management, fostering cooperative federalism for long-term growth.

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