State borrowings to surge about 18% in Q4 after slowing Q2 GDP growth
5 days, 17 hours ago

State borrowings to surge about 18% in Q4 after slowing Q2 GDP growth

Live Mint  

India’s state governments appear to be priming themselves for a significant capital expenditure push in the current quarter, offering hope of a drive towards reviving the pace of India’s economic growth after a succession of slow-growing quarters. The rise in state borrowings offers hope of a push towards broader economic recovery, following a notable slowdown in India’s gross domestic product growth in the past couple of quarters. Key borrowers lead the pack West Bengal’s indication to borrow ₹58,000 crore in Q4 FY25 is sharply higher than the ₹34,500 crore it had raised in the same quarter in the previous fiscal year. At the same time, the rating agency noted that the extent of undershooting in the actual borrowings by states in the last quarter of recent years relative to the indicated amount “has been mixed". The market borrowings are linked to the state fiscal deficit and fall within the norms provided by the Union government," said Devendra Kumar Pant, chief economist and head of public finance at India Ratings and Research, “The impact of higher state borrowings is unlikely to have a significant impact on GDP growth.

India Growth Rajasthan Karnataka Market Uttar Pradesh Maharashtra States West Bengal Telangana Crore Pradesh Madhya Pradesh Gdp Chief Economist Gdp Growth Icra Borrowings Q4 Fy24 Indicated State Borrowings Q4 Fy25 State Fiscal  state  fiscal  growth  market  18  states  crore  borrowings  indicated  pradesh  q2  slowing  surge  q4  gdp

History of this topic

After announcing Rythu Bharosa from Sankranti, Telangana decides to raise ₹30,000 crore market borrowings in Q4
1 week ago

After announcing Rythu Bharosa from Sankranti, Telangana decides to raise ₹30,000 crore market borrowings in Q4

The Hindu  

Telangana Government has decided to raise a huge ₹30,000 crore market borrowings during the last quarter of the current financial year. The decision to raise ₹30,000 crore in the last quarter follows the Government’s announcement of implementing Rythu Bharosa, farmers investment subsidy scheme, involving crediting of ₹7,500 an acre into the accounts of eligible farmers whose lands are under cultivation, …

Indian Economy To Recover In Q3 As Rural Demand Continues To Climb, Says State Of The Economy Report
Trending News
2 weeks ago

Indian Economy To Recover In Q3 As Rural Demand Continues To Climb, Says State Of The Economy Report

ABP News  

India’s gross domestic product growth is expected to make a comeback in the third quarter of the current financial year, the latest State of the Economy report by the Reserve Bank of India revealed. This revival is being backed by robust festive activity and a consistent upswing in rural demand, the report authored by RBI staff including Deputy Governor Michael …

RBI flags concerns over state sops even as tax revenue grows, spending quality improves
2 weeks, 6 days ago

RBI flags concerns over state sops even as tax revenue grows, spending quality improves

Live Mint  

Mumbai: India’s banking regulator has flagged concerns about a slew of sops announced by several states, even as their tax revenue has grown faster than the economic growth rate after the pandemic year of FY21, and spending quality improved in favour of more productive asset creation. Even as capital expenditure is projected to increase this year, states are expected to …

States borrow ₹30,790 crore in the Nov auction; FY25 borrowings stand at 2.1 tn
1 month, 1 week ago

States borrow ₹30,790 crore in the Nov auction; FY25 borrowings stand at 2.1 tn

Live Mint  

Twelve states collectively raised ₹30,790 crore on Tuesday through state government securities auctions for November, reflecting a pick-up in economic activity after a sluggish start to the fiscal year, according to data released by the Reserve Bank of India. Incidentally, state borrowings through dated government securities had seen a rise following a slowdown during Q1FY25, when states raised ₹52,971 crore, …

Gujarat State Financial Q2 Results Live: Loss Rises by 1.85% YoY
1 month, 4 weeks ago

Gujarat State Financial Q2 Results Live: Loss Rises by 1.85% YoY

Live Mint  

Gujarat State Financial Q2 Results Live : Gujarat State Financial declared their Q2 results on November 7, 2024, revealing a significant downturn in performance as the topline revenue plummeted by 65.08% year-over-year. When compared to the previous quarter, Gujarat State Financial reported a revenue decline of 35.54%, with losses increasing by 0.74%. Currently, Gujarat State Financial holds a market capitalization …

Punjab to borrow more as debt burden mounts
2 months ago

Punjab to borrow more as debt burden mounts

Hindustan Times  

Amid concerns over rising state debt, the Punjab government has planned to borrow ₹5,000 crore in the third quarter of the current fiscal year. The state government has been on a borrowing spree, raising ₹21,119 crore in the first half of the 2024-25 financial year, which amounts to approximately 70% of the net borrowing of ₹30,464.92 crore projected in the …

Capital spending of 13 major states to be below budget estimate in FY25 after sluggish start: Icra
2 months, 3 weeks ago

Capital spending of 13 major states to be below budget estimate in FY25 after sluggish start: Icra

Live Mint  

New Delhi: The combined capital spending of 13 major state governments in India is expected to grow by 13% to ₹6.5 trillion in FY25, below the budget estimate of ₹7.2 trillion, rating company Icra said on Wednesday. {{^adFree}} {{/adFree}} A sluggish start to capital expenditure and an expected shortfall in revenue due to elections during April-May are likely to have …

Tamil Nadu government plans to borrow ₹24,000 crore in Q2, 2024-25
6 months, 1 week ago

Tamil Nadu government plans to borrow ₹24,000 crore in Q2, 2024-25

The Hindu  

Tamil Nadu government plans to borrow ₹24,000 crore in the second quarter of fiscal 2024-2025, as per the Indicative Calendar of Market borrowings by State governments/Union Territories, released by the Reserve Bank of India. Tamil Nadu government plans to borrow a total amount of ₹1,55,584.48 crore during 2024-25 and make repayment of ₹49,638.82 crore, as per the State Budget. At …

Karnataka Budget: No tax hike, borrowings cross ₹1 lakh crore in revenue deficit
10 months, 3 weeks ago

Karnataka Budget: No tax hike, borrowings cross ₹1 lakh crore in revenue deficit

The Hindu  

The total outlay of the Karnataka State budget for 2024-25 is pegged at ₹3,71,383 crore, as against a revised estimate of ₹3,12,708 crore for 2023-24. Karnataka Budget 2024-25: LIVE coverage While the Chief Minister has not increased any taxes, he has presented a revenue deficit budget with the net borrowings crossing ₹1 lakh crore, perhaps for the first time in …

Tamil Nadu plans to borrow ₹37,000 crore in the last quarter of fiscal 2023-24
1 year ago

Tamil Nadu plans to borrow ₹37,000 crore in the last quarter of fiscal 2023-24

The Hindu  

The Tamil Nadu government plans to borrow ₹37,000 crore in the fourth quarter of fiscal 2023-24, according to the indicative calendar of market borrowings released by the Reserve Bank of India. So far in fiscal 2023-24, Tamil Nadu’s total tax revenue stood at about ₹1.27 lakh crore, which is 57.27% of the budgeted estimates, according to the provisional figures from …

Madhya Pradesh to present state budget after 2024 Lok Sabha elections
1 year ago

Madhya Pradesh to present state budget after 2024 Lok Sabha elections

Hindustan Times  

Madhya Pradesh government will present the state budget in July 2024 due to model code for the Lok Sabha elections 2024 and till then no new schemes can be announced, said a state finance department notification issued on Saturday. The notification said the vote of account will be brought in February-March to arrange the expenses of the state government for …

AP Exhausted 97.4% of Credit Limit under RBI: TD
1 year, 5 months ago

AP Exhausted 97.4% of Credit Limit under RBI: TD

Deccan Chronicle  

Vijayawada: National spokesman of Telugu Desam, Kommareddy Pattabhiram on Sunday tore into the Chief Minister Y.S. Jagan Mohan Reddy-led Andhra Pradesh government, saying it had already exhausted 97.4 per cent of its credit limit under the Reserve Bank of India. He said at Rs 40,000 crore, Tamil Nadu had borrowed more than AP this financial year but it was okay …

India Q4 GDP LIVE: GDP Grew By 6.1% In Jan-Mar Quarter; FY23 GDP Stands At 7.2%
1 year, 7 months ago

India Q4 GDP LIVE: GDP Grew By 6.1% In Jan-Mar Quarter; FY23 GDP Stands At 7.2%

News 18  

India GDP Q4 Growth LIVE Updates: The National Statistical Office has released the gross domestic product growth rate for the fourth quarter of fiscal year 2022-23, along with the growth rate clocked during the entire FY23. The country’s gross domestic product or GDP grew by 6.1 percent in the fourth quarter of fiscal year 2022-23, as per the official data. …

Data | Five Southern States took off-Budget loans worth ₹2.34 lakh crore in FY21
1 year, 10 months ago

Data | Five Southern States took off-Budget loans worth ₹2.34 lakh crore in FY21

The Hindu  

While tabling the Budget a week ago, Telangana Finance Minister T. Harish Rao accused the Centre of “creating hurdles after hurdles” in the development of the State. Five Southern States — Telangana, Andhra Pradesh, Kerala, Tamil Nadu and Karnataka — accounted for ₹2.34 lakh crore, around 93%, of the total off-Budget liabilities of eleven major States analysed. In almost all …

Budget likely to cap fiscal deficit at 5.8% for FY24; Centre's borrowings to rise
1 year, 11 months ago

Budget likely to cap fiscal deficit at 5.8% for FY24; Centre's borrowings to rise

The Hindu  

The Centre and States are likely to budget for higher market borrowings to the tune of ₹2.3 lakh crore next fiscal even though the Union budget may peg a lower-than-expected fiscal deficit for the Centre at 5.8% of GDP, says a report. She also expects the forthcoming budget to enhance the Centre's capex to Rs 8.5-9 lakh crore and target …

States may undershoot planned borrowings for Jan.-March: analysts
2 years ago

States may undershoot planned borrowings for Jan.-March: analysts

The Hindu  

States may not borrow as much as the record $41 billion they plan to in the January-March quarter, which will help keep the spread between State and central government bond yields in check, analysts said. States plan to sell bonds worth ₹3.41 trillion, the highest quarterly borrowing ever scheduled, in the last three months of the financial year, according to …

Indian states may undershoot planned borrowings for Jan-Mar quarter: Analysts
2 years ago

Indian states may undershoot planned borrowings for Jan-Mar quarter: Analysts

Live Mint  

Indian states may not borrow as much as the record $41 billion they plan to in the January-March quarter, which will help keep the spread between state and central government bond yields in check, analysts said. States plan to sell bonds worth 3.41 trillion rupees, the highest quarterly borrowing ever scheduled, in the last three months of the financial year, …

5 charts reveal the state of state economies
2 years, 1 month ago

5 charts reveal the state of state economies

Live Mint  

After 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 …

Indian economy stands tall than its global peers; likely to score a double-digit GDP growth in Q1FY23
2 years, 4 months ago

Indian economy stands tall than its global peers; likely to score a double-digit GDP growth in Q1FY23

Live Mint  

India is one of the few economies that has rebounded strongly despite three significant COVID waves, and it is currently in better shape than its global peers. It anticipates India's GDP growth to average 7 percent in 2022–23 and says the Indian economy is set for its best run in over a decade as pent-up demand is being unleashed. Furthermore, …

Indian economy stands tall than its global peers; likely to score a double-digit GDP growth in Q1FY23
2 years, 4 months ago

Indian economy stands tall than its global peers; likely to score a double-digit GDP growth in Q1FY23

Live Mint  

India is one of the few economies that has rebounded strongly despite three significant COVID waves, and it is currently in better shape than its global peers. It anticipates India's GDP growth to average 7 percent in 2022–23 and says the Indian economy is set for its best run in over a decade as pent-up demand is being unleashed. Furthermore, …

India's Q4 GDP Grows At 4.1%, Growth in FY22 Improves To 8.7%
2 years, 7 months ago

India's Q4 GDP Grows At 4.1%, Growth in FY22 Improves To 8.7%

News 18  

India’s gross domestic product grew 4.1 per cent in the fourth quarter of the financial year 2021-22. For the full financial year 2021-22, the GDP saw a growth of 8.7 per cent. The GDP growth of 8.7 per cent in 2021-22 is significantly better than last year’s 6.6 per cent contraction and points towards a recovery from the pandemic-driven slowdown. …

Govt Allows to 10 States to Borrow Additional Rs 28,204 Cr for Power Sector Reforms
2 years, 9 months ago

Govt Allows to 10 States to Borrow Additional Rs 28,204 Cr for Power Sector Reforms

News 18  

The finance ministry on Thursday said 10 states were given the permission to borrow an additional Rs 28,204 crore in FY22 for undertaking power sector reforms. “Department of Expenditure, Ministry of Finance, has granted additional borrowing permission of Rs 28,204 crore to 10 states for undertaking the stipulated reforms in power sector in 2021-22,” it said in a statement. In …

States Close FY21 with Borrowing 3% Less Than Notified Rs 8.24 Lakh Crore
3 years, 9 months ago

States Close FY21 with Borrowing 3% Less Than Notified Rs 8.24 Lakh Crore

News 18  

The states and Union Territories have collectively borrowed Rs 7.98 lakh crore from the markets in 2020-21 ending March which is Rs 25,393 crore or around 3 per cent less than the indicated debt for the fiscal. In FY21, 28 states and two Union Territories have cumulatively raised Rs 7.98 lakh crore from markets which is 26 per cent more …

Tamil Nadu’s borrowing touch ₹82,000 crore in FY2020-21
3 years, 10 months ago

Tamil Nadu’s borrowing touch ₹82,000 crore in FY2020-21

The Hindu  

Tamil Nadu’s market borrowings has touched ₹82,000 crore in FY2020-21, up 37% from ₹59,990 crore in the comparable period last year. On Tuesday, Tamil Nadu raised ₹2,500 crore through re-issue of a 10-year bond also called as State Development Loans. Tamil Nadu, Maharashtra, Uttar Pradesh, Karnataka, Rajasthan and Andhra Pradesh have been the top six borrowing states, accounting for 53% …

Borrowing 43% More in First 9 Months, States Fall Deeper into Debt Trap
4 years ago

Borrowing 43% More in First 9 Months, States Fall Deeper into Debt Trap

News 18  

At Rs 5,55,900 crore, the states whose finances have been ravaged by the pandemic, have snapped up as much as 43.5 per cent more debt from the market during the first nine months of the current fiscal with the conclusion of the last auction on Tuesday when 13 of them borrowed Rs 18,900 crore. But given the steep fall in …

Himachal raises ₹1,000 cr loan for development, paying salaries
4 years, 2 months ago

Himachal raises ₹1,000 cr loan for development, paying salaries

Hindustan Times  

To revive economic activity in the state, the Himachal Pradesh government has borrowed ₹1,000 crore to pay salaries of its employees and expedite development projects that have been hit by the lockdown imposed due to the covid-19 pandemic. Last fiscal, around 1.7 crore tourists visited the state; this fiscal, the number has dropped to a trickle at a mere 80,000 …

Tamil Nadu, 20 Other States to Borrow Additional Rs 78,452 Cr to Meet Revenue Shortfall
4 years, 2 months ago

Tamil Nadu, 20 Other States to Borrow Additional Rs 78,452 Cr to Meet Revenue Shortfall

News 18  

A day after granting permission to 20 states for mobilising Rs 68,825 crore, the government on Wednesday allowed Tamil Nadu to raise an additional Rs 9,627 crore through open market borrowings to bridge the revenue shortfall caused by the COVID-19 pandemic. The borrowing permission issued to the 21 states is over and above the borrowing permission of around Rs 1.10 …

States' Market Borrowings Jump 55% to Rs 3.75 Lakh Crore So Far This Fiscal
4 years, 3 months ago

States' Market Borrowings Jump 55% to Rs 3.75 Lakh Crore So Far This Fiscal

News 18  

The states' market borrowings have jumped 55 per cent to Rs 3.75 lakh crore so far this fiscal, or 75 per cent of the budgeted amount, with 17 of them raising an additional Rs 22,350 crore from the latest auction of state development loans held on Tuesday. So far this fiscal year, 28 states and two Union Territories have cumulatively …

Government to borrow ₹4.34 trillion in H2 as planned in May
4 years, 3 months ago

Government to borrow ₹4.34 trillion in H2 as planned in May

Live Mint  

NEW DELHI: The central government on Wednesday said it will borrow ₹4.34 trillion in the second half of the fiscal, sticking to its ₹12 trillion borrowing plan for the whole year as decided in May. Economic affairs secretary Tarun Bajaj, at a briefing, said the borrowing target was raised to ₹12 trillion in May from the originally budgeted figure of …

State borrowings set to rise 53% in first half: Care Ratings
4 years, 6 months ago

State borrowings set to rise 53% in first half: Care Ratings

The Hindu  

In an indication of liquidity issues, 13 States are found to have raised ₹12,750 crore through auction of State Government securities or State Development Loans on July 7. So far in the current fiscal, 23 States and one UT have cumulatively raised ₹1.8 lakh crore via market borrowings, which is an increase of 75% from the borrowings in the corresponding …

Covid-19: Shoring up states financial muscle in times of a crisis
4 years, 9 months ago

Covid-19: Shoring up states financial muscle in times of a crisis

Business Standard  

In view of the ongoing crisis, the government has come up with several measures to aid the economy. Here’s the latest on the coronavirus outbreak and government measures to contain its impact on the economy: Last month, even before the Reserve Bank of India issued the indicative borrowing calendar for the states for April-June and the one for the Centre …

State finances show worrying trend: Report
5 years, 2 months ago

State finances show worrying trend: Report

Live Mint  

New Delhi: Reflecting slowdown in the economy, monthly finances of 17 state governments show worrying trend with total receipts growing only 4.1% in the first five months of the current fiscal, compared to same period a year ago. "For the first five months of FY20, while capital expenditure grew only 0.6% year-on-year, core revenue spending grew 7.6% YoY. Thus, total …

Maharashtra economic survey: High goals, but state’s growth rate low
5 years, 6 months ago

Maharashtra economic survey: High goals, but state’s growth rate low

Hindustan Times  

While the government has set an ambitious target of making Maharashtra a trillion-dollar economy by 2025, the economic survey 2018-19 presented in the legislature on Monday showed the growth rate has remained at 7.5% of the Gross State Domestic Product, the same as 2017-18. The drop in the agriculture growth by 2.7% against last year has resulted in the decline …

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