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Indian states face a potential revenue shortfall of around Rs 1.05 lakh crore in FY22 budget estimates.
However, if the states could carry out the reforms in power sector and the local bodies, a potential amount of Rs 1.77 lakh crore could still be available to them. This implies that Indian states could still end FY22 with an additional Rs 72,000 thousand crore in their kitty.
Thus, fiscal position of Indian states is still much better than the overall consensus. Also, the recently released overall tax collection numbers have provided much cheer for the Centre.
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