Opinion: The urgent need for states to get fiscally fit
6 years, 5 months ago

Opinion: The urgent need for states to get fiscally fit

Live Mint  

The recent report, “State Finances: A Study of State Budgets 2018” by the Reserve Bank of India confirms what has been observed for a while; that the state of state finances is in “deep trouble” territory. States implementing wage increases reported a 28% growth in revenue expenditure while interest payments grew 16% driven by the market borrowing binge of recent years. Unlocking resources for infra-spending through asset monetization: Earlier, CRISIL Advisory had pegged India’s infrastructure investment needs during FY18 and FY22 at ₹ 50 trillion, with states having to account for 35-40% of this. Asset monetization in sectors including state highways and power transmission could possibly help recycle capital into newer infrastructure spending without adding incremental debt, crowd-in long-term private capital and bring efficiencies in management. Redressing agrarian stress durably through wholesome reforms: Loan waivers announced by states since 2014 amount to ₹ 1.69 trillion or roughly 14% of all incremental market borrowings by state governments during this period.

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History of this topic

State borrowings to surge about 18% in Q4 after slowing Q2 GDP growth
1 week, 4 days 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 …

State’s spending shoots up, revenue collection remains below par
2 weeks, 4 days ago

State’s spending shoots up, revenue collection remains below par

Deccan Chronicle  

Hyderabad:The Comptroller and Auditor General of India on Friday released its detailed report on Telangana's state finances for April-November 2024, revealing significant increases in expenditure on debt servicing, salaries, pensions, and subsidies over the same period in 2023. The tax revenues reached `93,553.51 crore, representing 56.91 per cent of the `1,64,397.64 crore BE, marginally lower than 57.10 per cent last …

Govt to improve quality spending, cut fiscal deficit to 4.5% of GDP in FY26: FinMin Report
2 weeks, 6 days ago

Govt to improve quality spending, cut fiscal deficit to 4.5% of GDP in FY26: FinMin Report

Live Mint  

The central government will continue to focus on improving quality spending, strengthening the social security net and bringing down the fiscal deficit to 4.5 per cent of the gross domestic product in 2025-26. The gross tax revenue was estimated at about ₹38.40 lakh crore with an implied tax-GDP ratio of 11.8 per cent. With the above estimates of receipts and …

Govt committed to improve quality spending, cut fiscal deficit to 4.5 pc in FY26: Finmin report
3 weeks ago

Govt committed to improve quality spending, cut fiscal deficit to 4.5 pc in FY26: Finmin report

Live Mint  

New Delhi, Dec 25 The government will continue its focus on improving quality spending, strengthening the social security net and bring down the fiscal deficit to 4.5 per cent of the GDP in FY26, a finance ministry document said. The Union government is committed to pursuing the glide path of fiscal consolidation as announced in the Budget for FY 2021-22 …

RBI asks States to have sustained fiscal prudence
3 weeks, 5 days ago

RBI asks States to have sustained fiscal prudence

The Hindu  

State governments contained their consolidated gross fiscal deficit within 3% of the gross domestic product and their revenue deficit at 0.2% of GDP during 2022-23 and 2023-24, the Reserve Bank of India said in its report on state finances. “In view of high debt levels, contingent liabilities and the rising subsidy burden, State government finances would benefit from the adoption …

RBI flags concerns over state sops even as tax revenue grows, spending quality improves
3 weeks, 5 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 …

RBI flags concerns over state sops even as tax revenue grows, spending quality improves
3 weeks, 5 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 …

India’s fiscal deficit on track, but spending challenges persist, govt. has only five months left in FY25 to spend: UBI report
1 month, 1 week ago

India’s fiscal deficit on track, but spending challenges persist, govt. has only five months left in FY25 to spend: UBI report

Live Mint  

New Delhi, December 2 : The central government fiscal deficit stands at 46.5 per cent of its budget estimates in the first seven months of the current financial year 2025, highlights a report by Union Bank of India. The report also noted that the capital expenditure of the government in the first seven months of the current fiscal stands at …

India’s Fiscal Deficit Widens to 46.5% in FY25 Amid Core Sector Growth
1 month, 2 weeks ago

India’s Fiscal Deficit Widens to 46.5% in FY25 Amid Core Sector Growth

Deccan Chronicle  

New Delhi: India's fiscal deficit widened to 46.5 percent of FY25 at Rs 7.51 lakh crore, which was higher than the previous year’s 45 percent for a similar period. While the country's eight core sectors' output surged by 3.1 per cent in October as compared to a growth of 2 per cent in September, two separate government data showed on …

Data dive: How freebies are hurting already stressed state finances
1 month, 3 weeks ago

Data dive: How freebies are hurting already stressed state finances

Live Mint  

Maharashtra and Jharkhand are going to polls amid heated campaigns that saw ideological clashes, political wrangling, and promises of several free goods and services, colloquially known as freebies. Most states that went to polls in 2023 or 2024 saw their fiscal deficit as a share of the gross state domestic product rise compared to the previous non-election year, showed a …

Government may ease quarterly capex limits to achieve record ₹11.11 trillion spending goal for FY25: Report
2 months ago

Government may ease quarterly capex limits to achieve record ₹11.11 trillion spending goal for FY25: Report

Live Mint  

India is considering the relaxation of quarterly spending limits to ensure it does not fall short of its capital expenditure target for the financial year 2024/2025, according to a government source. Capital expenditure, or spending on building physical infrastructure, was at 4.15 trillion rupees during April-September, or 37% of the annual target, against 4.9 trillion rupees a year earlier. The …

AP Budget: Total Outlay at Rs.2,94,427.25 Cr
2 months ago

AP Budget: Total Outlay at Rs.2,94,427.25 Cr

Deccan Chronicle  

Vijayawada: The annual Budget for Andhra Pradesh was presented in the state assembly on Monday by Finance Minister Payyavula Keshav. Keshav said the budget of Rs.2,94,427.25 crore for FY25 has a revenue expenditure estimated at Rs.2,35,916.99 crore and capital expenditure at Rs.32,712.84 crore. The finance minister announced an allotment of Rs.11,855 crore for agriculture and allied sectors, Rs.18,497 crore for …

Capital spending of 13 major states to be below budget estimate in FY25 after sluggish start: Icra
2 months, 4 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 …

India confident of achieving fiscal deficit target, on course with glide path: FM Sitharaman
5 months, 2 weeks ago

India confident of achieving fiscal deficit target, on course with glide path: FM Sitharaman

Live Mint  

The government is confident of achieving its fiscal deficit target and sticking to the glide path to trim it to 4.5% of the GDP by FY26, Union finance minister Nirmala Sitharaman told Parliament on Tuesday, addressing concerns raised by the Opposition on the budget. Sitharaman also outlined the government’s budgetary allocations for social sector welfare schemes, public capex, expenditure on …

Budget 2024 and the impact of the general elections
5 months, 3 weeks ago

Budget 2024 and the impact of the general elections

Live Mint  

Popular expectations had settled on the notion that the outcome of Election2024 would influence the tenor and direction of Budget2025. The ambition on agriculture reforms, the ₹1.1-trillion infrastructure push, development of industrial parks with states to spur manufacturing, urban development plans and ramp-up of skilling, among others, are all projects that envisage intense cooperation between the Centre and states. FM …

Budget 2024: A message of fiscal stability, growth continuity
5 months, 3 weeks ago

Budget 2024: A message of fiscal stability, growth continuity

The Hindu  

The FY25 Union Budget has sent out a strong message under the new administration — there remains an unequivocal focus on stability and continuity amidst a new chiselled focus on providing growth a more inclusive character in India. The fiscal deficit, at 5.6% of GDP in FY24, still high compared to pre-COVID-19 pandemic levels, provided the needed growth impetus via …

Ajit Pawar presents interim budget, state debt reaches ₹7.82 lakh crore
10 months, 2 weeks ago

Ajit Pawar presents interim budget, state debt reaches ₹7.82 lakh crore

Hindustan Times  

MUMBAI: Finance minister Ajit Pawar on Tuesday presented a ₹6 lakh crore interim budget with a revenue deficit of ₹9,734 crore. While the government is aiming for a $1trillion state economy, its debt burden has reached ₹7.82 lakh crore after a net borrowing of ₹72,000 crore. The PM has announced welfare schemes for youth, women, the poor and farmers, which …

Karnataka Budget: No tax hike, borrowings cross ₹1 lakh crore in revenue deficit
10 months, 4 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 …

Budget 2024: It’s tax buoyancy that shrank the deficit
11 months, 1 week ago

Budget 2024: It’s tax buoyancy that shrank the deficit

Live Mint  

A quick glance at the fiscal arithmetic reveals that there is no severe fiscal austerity proposed in the budget. Given nominal GDP growth of 10.5% and aggregate tax revenue growth of 11.5%, the government has met its fiscal deficit target through tax buoyancy, and not through severe public expenditure reduction. As against a 2023-24 Budget Estimate of ₹61,000 crore, the …

Sluggish pace of growth in revenue receipts in Telangana continue at the end of Q3
11 months, 2 weeks ago

Sluggish pace of growth in revenue receipts in Telangana continue at the end of Q3

The Hindu  

The sluggish pace of growth in the revenue receipts in Telanganacontinued at the end of the third quarter of the current financial year with overallrevenue receipts pegged at ₹1.25 lakh crore, 57% of the ₹2.16 lakh crore projected in the budget estimates. Tax revenue has shown some improvement since the past few months reaching ₹99,693 crore, 65.37 % at the …

A macro view of the fiscal health of States
1 year, 6 months ago

A macro view of the fiscal health of States

The Hindu  

In India, the States mobilise altogether more than a third of total revenue, spend 60% of combined government expenditure, and have a share in government borrowing that is around 40%. Fiscal challenges However, there are significant fiscal challenges that need correction in the short to medium time frame — the most critical being containing the revenue deficit of States. Out …

Govt meets 6.4% fiscal deficit target for FY23
1 year, 7 months ago

Govt meets 6.4% fiscal deficit target for FY23

Hindustan Times  

The Union government met its fiscal deficit target of 6.4% of the gross domestic product for 2022-23 on the back of robust tax revenue despite higher revenue expenditure, particularly on account of subsidies and interest payments, official data released on Wednesday showed. Fiscal deficit indicates government’s borrowing to meet the gap between revenue receipts in a particular financial year and …

Measures to make T.N. revenue-neutral to be keenly watched
1 year, 9 months ago

Measures to make T.N. revenue-neutral to be keenly watched

The Hindu  

Apart from the anticipation of an announcement on the monthly honorarium of ₹1,000 for women family heads, measures to achieve the goal of making the State revenue-neutral in three years would be keenly watched in the Tamil Nadu Budget for 2023-24 to be presented by Finance Minister Palanivel Thiaga Rajan on Monday. As per the provisional figures of the Comptroller …

AP Budget is realistic: Govt does a poll vault, gives more funds to welfare
1 year, 9 months ago

AP Budget is realistic: Govt does a poll vault, gives more funds to welfare

Deccan Chronicle  

Jagan Mohan Reddy-led government on Thursday presented the state Budget for 2023-2024 with a massive outlay of Rs 2.79 lakh crore of which more than 70 per cent will be mobilised from the state's own revenues, devolution of Central taxes and grants-in-aid. “Significantly, the Jagan Mohan Reddy government increased its expenditure by a whopping Rs 50,000 crore this year compared …

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 …

Paradigm shift in approach towards capital, investment and growth called for
1 year, 11 months ago

Paradigm shift in approach towards capital, investment and growth called for

The Hindu  

The State budget was presented amidst several concerns being raised about the state of government finances. An increase in Plan expenditure and within that an increase in capital outlay to ₹14,079 crore from ₹10,639 crore is a move in the right direction. In fact, capital outlay under Plan expenditure is declining to ₹9,805 crore in 2023-24 from ₹14,079 crore this …

State economy clocked 12.01% growth in 2021-22: Economic Review
1 year, 11 months ago

State economy clocked 12.01% growth in 2021-22: Economic Review

The Hindu  

The State economy posted a ‘‘strong recovery’‘ in 2021-22 with the Gross State Domestic product clocking a 12.01% growth at constant prices, the Economic Review 2022 published on Thursday said. The annual growth rate of public debt decreased from 14.34% to 10.16%, and the public debt-GSDP ratio from 25.90% to 24.26% in 2021-22 compared to the previous fiscal. State’s own …

A balance between capital outlays and fiscal prudence
1 year, 11 months ago

A balance between capital outlays and fiscal prudence

The Hindu  

The Budget comes at a time when the government faces a delicate balancing act between expenditure priorities and the need for fiscal prudence as it is the last full Budget before the general elections. There are five issues that need to be analysed in this Budget — three from a growth and fiscal stability perspective and two from a welfare …

Reading the Union Budget with state govt spending statistics
1 year, 11 months ago

Reading the Union Budget with state govt spending statistics

Hindustan Times  

Finance minister Nirmala Sitharaman will present her fifth consecutive budget on February 1 this year. See Chart 1: Share of central and state spending in total government expenditure in India There was no significant increase in states’ fiscal deficit post-pandemic The union government’s fiscal deficit has seen a sharp increase in the wake of the pandemic. See Chart 2: centre …

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

India's April-November 2022 Fiscal Deficit Hits 58.9% Of Full-FY23 Target; Details Here
2 years ago

India's April-November 2022 Fiscal Deficit Hits 58.9% Of Full-FY23 Target; Details Here

News 18  

India’s fiscal deficit during April-November 2022 stood at Rs 9.78 lakh crore, or 58.9 per cent of the full-financial year target, according to the latest official data released on Friday. According to the latest data from the Controller General of Accounts, the Centre’s total expenditure during April-November 2022 stood at Rs 24,42,787 crore, which is 61.9 per cent of the …

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 …

States' capex soars 36% in FY23, fiscal deficit at Rs 8.4 lakh crore, finds ICRA report
2 years, 5 months ago

States' capex soars 36% in FY23, fiscal deficit at Rs 8.4 lakh crore, finds ICRA report

Firstpost  

According to the agency, 26 large states, excluding Assam, are on course to spend Rs 6.8 lakh crore or 35.8 per cent more this fiscal in capital expenditure over FY22 when it stood at Rs 5 lakh crore Mumbai: States have budgeted 36 per cent higher capital expenditure during this financial year, which may lead to a sharp rise in …

Why it’s time to worry about state finances
2 years, 6 months ago

Why it’s time to worry about state finances

Live Mint  

State governments are confronting various fiscal risks, particularly heavy debt, says the Reserve Bank of India’s latest bulletin. However, a rising trend in providing freebies such as free power, water, and gender-based free bus rides in many states have eaten into the expenditure pie. Power sector accounts for a large portion of states’ financial burden, since dues owed by discoms …

Data | Poor revenues, higher spending increased debt burden of ten Indian States
2 years, 6 months ago

Data | Poor revenues, higher spending increased debt burden of ten Indian States

The Hindu  

The pandemic has worsened the fiscal positions of State governments. The revenue expenditure of many of these States constitute 80-90% of the total expenses and therefore they have poor capital spending. Within own tax revenue, States’ goods and services tax, States’ excise duties and sales tax are the major sources of revenue High revenue expenditure The share of revenue expenditure …

TN Budget: Fiscal deficit falls to 3.80% from 4.61%, revenue deficit too declines
2 years, 9 months ago

TN Budget: Fiscal deficit falls to 3.80% from 4.61%, revenue deficit too declines

The Hindu  

Tamil Nadu’s fiscal deficit for 2021-22 is poised to see a significant reduction from 4.61% down to 3.80% and the State will see a reduction in the absolute level of the revenue deficit by over ₹7,000 crore, “reversing an alarming trend of increasing deficits every year since 2014,” Finance Minister Palanivel Thiaga Rajan said in the Assembly on Friday. Presenting …

Markets may keep seeing buying interest
2 years, 11 months ago

Markets may keep seeing buying interest

Live Mint  

The Union Budget presented by finance minister Nirmala Sitharaman was well received by the equity markets, mainly as it was not populist, as feared by some, and also due to the growth push on the supply side. However, revival of demand seems difficult going by the fact that rural allocation has been cut and interest rates seem to be on …

Creating jobs by increasing capex
2 years, 11 months ago

Creating jobs by increasing capex

The Hindu  

If we had to look for one single metric that held the key to us achieving our immense economic potential as a nation, creation of gainful jobs, particularly for our underemployed youth and women, would perhaps be a strong candidate. Data released by the Controller General of Accounts shows that for the first nine months of the current fiscal year …

Andhra Pradesh's revenue deficit soars 662 per cent in H1
3 years, 2 months ago

Andhra Pradesh's revenue deficit soars 662 per cent in H1

Deccan Chronicle  

Amaravati: Andhra Pradesh's revenue deficit soared by an unprecedented 662.80 per cent while the fiscal deficit was up 107.79 per cent in the first half of the 2021-'22 financial year. According to CAG's accounts for the first half of the fiscal, AP's total receipts touched 1,04,804.91 crore, including Rs 39,914.18 crore borrowings. In the first half of the current fiscal, …

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% …

Budget 2021: ’Raise limit for senior citizens interest income to ₹1 lakh’
3 years, 11 months ago

Budget 2021: ’Raise limit for senior citizens interest income to ₹1 lakh’

Live Mint  

By Deepak Jasani The Finance Minsiter has raised expectations from the forthcoming Budget by planning a once in 100 years Budget. While Direct and Indirect taxes may not offer much scope to innovate or bring path breaking reforms, the main focus could be on boosting manufacturing through schemes like PLI and to create jobs. Government is expected to recapitalise PSU …

Fiscal deficit of states to hit peak of ₹8.7 lakh crore, says CRISIL
3 years, 11 months ago

Fiscal deficit of states to hit peak of ₹8.7 lakh crore, says CRISIL

The Hindu  

The States are headed for a fourfold expansion in their revenue deficit this fiscal over the last year due to far lesser tax collections, Crisil Ratings said in a report. “This will not only expand States’ aggregate gross fiscal deficit to an all-time high of ₹8.7 lakh crore, or 4.7% of GSDP, but also skew its composition towards revenue deficit …

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 …

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 …

Maharashtra’s politics is a mess, but its finances aren’t
5 years, 1 month ago

Maharashtra’s politics is a mess, but its finances aren’t

Live Mint  

Maharashtra is among the most industrialized states in the country, boasting of finances that are better than most others. The Maharashtra government ran a fiscal deficit of ₹56,053 crore—2.1% of the state’s GDP—in FY19. The fiscal deficit of Maharashtra in FY19 was at 2.1% of the state’s GDP. In fact, in FY20, Maharashtra hopes to achieve a fiscal deficit of …

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 …

Farm-loan waivers to hit states fiscal deficit targets: Report
5 years, 11 months ago

Farm-loan waivers to hit states fiscal deficit targets: Report

Live Mint  

With populist decisions like farm loan waivers and other financial support schemes likely to gain significance in the run-up to the forthcoming next general elections, aggregate fiscal deficit of the states is expected to reach 3.2 percent in FY20, warns a report. A larger impact is expected on fiscal and revenue deficit to gross state domestic product ratios for MP, …

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