RBI’s Kanungo warns on fiscal imbalances


Heavy borrowing by India’s states is starting to make the debt management work of the Reserve Bank of India harder, deputy governor BP Kanungo warned on August 31.

In remarks to the Bengal Chamber of Commerce, Kanungo said it was “a matter of concern” that greater fiscal imbalances were appearing in the state finances. “Fiscal slippages” have also appeared in the central government’s finances, with the gross fiscal deficit averaging 5.6% of GDP from 2008–13, despite a supposed target of 3%.


Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: