Gupta, Manish  Md Azharuddin, S.K. and  Mahesh, Malvika  <br/><br/>
Public sector borrowings of select states: Issues and challenges 

 - Economic & Political Weekly  
 - 60(18), May 3, 2025: p.84-90 
<br/><br/> The study has been undertaken at the instance of the Foreign, Commonwealth and Development Office of the Government of United Kingdom. The authors thank R Kavita Rao and Ajay N Jha for useful discussions and comments which greatly benefited the paper.  The public sector borrowing requirements for select Indian states are ascertained, with the objective of deriving a realistic estimate. It is of the view that instead of focusing on a narrow definition of fiscal indicators like debt and deficit, a broader definition encompassing activities of the public sector would be useful in making fiscal policy realistic and more effective.- Reproduced <br/><br/>https://www.epw.in/journal/2025/18/sixteenth-finance-commission/public-sector-borrowings-select-states.html<br/>