Debt and deficit in haryana government finances

The paper make a comprehensive analysis of public debt and outstanding liabilities on Haryana with a view to understand trends in public debt, composition of public debt, gross fiscal deficit, decomposition of gross fiscal deficit, financing pattern of gross fiscal deficit, uses of borrowed funds etc. for the period 1980–81 to 2015–16 using yearly data from studies of state finances report of RBI. The paper estimates adequacy of incremental non-debt receipts of the State is to cover the incremental interest liabilities and incremental primary expenditure. The paper finds indications of stress on state finances and uses of borrowed funds for routine revenue expenditure instead of productive capital expenditure.