5) The Fiscal Responsibility and Budget Management (FRBM) Review Committee report has preferred a debt to GDP ratio of 60% for the general government by 2023, comprising 40% for the Central government and 20% for the State governments. Discuss the challenges that states would face in achieving debt ceiling of 20% by 2023.

Topic: Economic growth

5) The Fiscal Responsibility and Budget Management (FRBM) Review Committee report has preferred a debt to GDP ratio of 60% for the general government by 2023, comprising 40% for the Central government and 20% for the State governments.  Discuss the challenges that states would face in achieving debt ceiling of 20% by 2023. (200 Words)

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