Dehradun, May 19 -- The 16th Finance Commission, which visited Uttarakhand, has praised the state's financial management.

Commission Chairman Dr Arvind Panagariya said, "If there is a balanced fiscal deficit in any developing state, then it is not a bad situation. It is important to take care that this deficit does not increase."

A balanced fiscal deficit occurs when a government's total expenditure equals its total revenue, excluding borrowing. This means the government is not spending more than it earns and is not accumulating debt.

Uttarakhand Chief Minister Pushkar Singh Dhami on Monday presented the state's stand in detail on the financial conditions, challenges and development needs of the state in a meeting with the Chairman of ...