Can NDA’s lofty election promises withstand Bihar’s stark fiscal reality?
The state’s fiscal deficit is already pressing against the Centre’s 3% cap, and nearly 60% of all revenue receipts are pre-committed to salaries, pensions and interest payments, severely restricting room for discretionary spending.
The state’s fiscal deficit is already pressing against the Centre’s 3% cap, and nearly 60% of all revenue receipts are pre-committed to salaries, pensions and interest payments, severely restricting room for discretionary spending.
