5 charts reveal the state of state economies
Live MintAfter witnessing unprecedented challenges due to the covid-19 pandemic, India’s states are well on their way to recovery, according to the Reserve Bank of India’s Handbook of Statistics on Indian States released last week. Here is what data tells us about states’ growth, finances, wages, and credit, in five charts: Recovering Losses View Full Image Mint ReNew to sell 1GW plants at $1bn enterprise value Adani FPO in the works to fund new-age businesses What India gains from FTA with Australia After contracting 6.6% in 2020-21, the Indian economy grew 8.7% in the following year, surpassing pre-pandemic levels by 2%. Andhra Pradesh’s economy grew the fastest in FY22 and it was also one of the four states that posted a marginal growth in the pandemic-hit FY21. Fiscal Gap View Full Image Mint States werenotonly able to allocate high amounts to capital expenditure in FY22, but also to an extent manage their fiscal deficit, which had risen dramatically in FY21. However, in the following year, all but six states budgeted a smaller fiscal deficit, with the aggregate figure 12% lower at ₹8.19 trillion, but still up 56% from two years ago.
History of this topic
RBI flags concerns over state sops even as tax revenue grows, spending quality improves
Live Mint
Capital spending of 13 major states to be below budget estimate in FY25 after sluggish start: Icra
Live Mint
Indian economy is resilient amid global slowdown: Sitharaman
Hindustan Times
Why Telangana has a persistent inflation problem
Live Mint
State economy clocked 12.01% growth in 2021-22: Economic Review
The Hindu
Explained | What’s fuelling higher inflation in rural India?
The Hindu
Andhra Pradesh's revenue deficit soars 662 per cent in H1
Deccan Chronicle)
States Close FY21 with Borrowing 3% Less Than Notified Rs 8.24 Lakh Crore
News 18
State Recovery Tracker: High-GDP states catch up with rest of India on economic revival
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