State-wise Gross Fiscal Deficit Across India, 2004-2024

Combined state-level gross fiscal deficit has grown from INR 1.09 lakh crore in 2004 to INR 10.39 lakh crore in 2024, nearly ten times over two decades. The trajectory was broadly controlled through the mid-2000s as states adjusted to the FRBM framework, but spending pressures picked up…