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RBI raises red flag on states' fiscal deficit, farm-loan waivers

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Reserve Bank of India (RBI) in its annual report has raised red flags on states' fiscal deficit, pay revisions and farm-loan waivers. “Visible fiscal pressures are emerging for several states on the expenditure side, particularly on account of pay revisions, interest payments and other state-specific schemes like farm-loan waivers,’’ the central bank said in its annual report on state finances.

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