This is the first time the State government is being denied money by any bank.
This is the fourth straight month when retail inflation has declined and the third straight month of Consumer Price Index (CPI) based inflation remaining within the RBI's comfort zone of below 6 per cent.
The federal government met targetted fiscal deficit of 6.4% of the gross domestic product, helped by higher tax revenue even as spending increased, as per a statement. The government will release the revised GDP estimate later in the day.
According to a report by HR solutions provider Genius Consultants, 30 per cent of the respondents said that cost-cutting is the reason behind the layoffs, and 23 per cent blamed the mass economic downfall as being the reason.