States and Centre's fiscal hole may get even more bigger, former RBI Governor warns

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 Combined fiscal deficit of Centre, States may go up to 14% in this fiscal: Former RBI Governor Rangarajan

 

                           The combined fiscal deficit of states and the centre during the current year may go up to 14 per cent against the mandated level of six per cent, former Reserve Bank Governor C Rangarajan said on Thursday.

 

                       Speaking at a programme organised by the ICFAI Business School here, the former Chairman of the Economic Advisory Council to the Prime Minister said banks should neither be timid nor adventurous while lending as the loans of today should not become NPAs of tomorrow.

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