Fiscal discipline crucial for growth; states to prioritise quality spending: RBI governor

TOI Business Desk / TIMESOFINDIA.COM / Sep 18, 2025, 22:25 IST

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Fiscal discipline crucial for growth; states to prioritise quality spending: RBI governor

Emphasising the role of fiscal discipline in fostering economic growth and prosperity, RBI Governor Sanjay Malhotra on Thursday urged states to focus on the quality of expenditure and exercise prudence in off-budget borrowings.Speaking at the 35th Conference of State Finance Secretaries, themed ‘Journey towards Economic Prosperity through the Path of Fiscal Consolidation’, Malhotra highlighted the importance of active coordination between states and the Reserve Bank for implementing initiatives in currency management, financial inclusion, and the Unified Lending Interface, PTI reported.The meeting also reviewed cash management, market borrowings, and other fiscal consolidation issues. It was attended by the Secretary, Department of Expenditure (Ministry of Finance), finance secretaries of 28 states and two Union Territories, along with officials from the Ministry of Finance, Controller General of Accounts, and the Comptroller and Auditor General of India.

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The TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.

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