West Bengal and Sikkim are the only two states to have not adopted the Fiscal Responsibility and Budget Management (FRBM) Act


says RBI report

Namrata Acharya / Kolkata March 16, 2010, 0:17 IST


West Bengal and Sikkim are the only two states to have not adopted the Fiscal Responsibility and Budget Management (FRBM) Act. While in 2008-09, 13 out of 17 non-special category states recorded revenue surplus, in 2008-09 according to revised estimates (RE), West Bengal registered the highest revenue deficit of 3.7 per cent of GSDP. West Bengal was followed by Punjab (2.5 per cent of GSDP), Kerala (2 per cent of GSDP) and Rajasthan (0.1 per cent of GSDP) in 2008-09 (RE).

Revenue deficit (RD) formed a significant portion of gross fiscal deficit (GFD) in these states, especially in West Bengal (99.9 per cent), followed by Kerala (59.1 per cent) and Punjab (55.6 per cent), points out the RBI report.

source:business standard