State Finances: A Study of Budgets of 2025-26

Last updated: 27 January 2026

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This report from the Reserve Bank of India provides a comprehensive analysis of state government finances for the 2025-26 fiscal year. It examines key highlights such as consolidated gross fiscal deficits, sustained capital expenditure, and elevated outstanding liabilities. The study also delves into the implications of demographic transition on state finances, offering insights for youthful, ageing, and intermediate states. This free-to-download PDF is essential for policymakers, researchers, and anyone interested in India's state-level fiscal health.

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State Finances: A Study of Budgets of 2025-26 #pdf

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Submitted by Shree · Posted 27 January 2026 online