CAG flags states’ fiscal stress as debt, committed spending erode revenue gains
New Delhi: India’s states entered FY24 with stronger revenue inflows but ended the year under mounting fiscal stress, as rising debt and fixed spending commitments eroded fiscal flexibility, the Comptroller and Auditor General of India (CAG) said. More than half of their revenue expenditure was locked into salaries, pensions, interest payments and subsidies, limiting room…

