New Delhi, Oct. 27 -- The Reserve Bank of India (RBI) has called on state governments to improve expenditure quality, strengthen cash management and adopt prudent borrowing strategies to ensure long-term fiscal sustainability.

The central bank's Governor, Sanjay Malhotra, made the recommendations while inaugurating the 36th Conference of State Finance Secretaries in Mumbai on Tuesday, according to an RBI release.

The conference was held under the theme 'Role of Quality of Expenditure, Effective Cash and Prudent Debt Management in Enhancing States' Fiscal Sustainability'. It brought together finance secretaries from 27 states and three Union Territories, along with senior officials from the Union finance ministry, the Controller General ...