State finances: Measuring states the right way

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SUBHOMOY BHATTACHARJEE SUBHOMOY BHATTACHARJEE
SummaryJust how well are the states managing their finances? It turns out there is an easy answer to that one.

performance.

Do remember the papers were priced at a free auction. The buyers were predominantly public sector banks and not foreign investors who can be expected to have biases. The public sector banks should know what is happening in the Mantralaya of each state government. Even Gujarat is not the best as far as they are concerned. That accolade is reserved for Tamil Nadu whose debt papers were priced at 9.2 per cent.

Subhomoy is a Deputy Editor based in New Delhi.

subhomoy.bhattacharjee@expressindia.com

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