CAG slams state govt for fiscal stress
5 months, 1 week ago

CAG slams state govt for fiscal stress

Hindustan Times  

Mumbai: In a report tabled in the Maharashtra legislature on Friday, the Comptroller and Auditor General criticised the state government for fiscal stress caused by a mismatch between receipts and expenditure. HT Image The state government’s revenue receipts grew from ₹2,78,996 crore in 2018-19 to ₹4,05,678 in 2022-23, while revenue expenditure during this period increased from ₹2,67,021 crore to ₹4,07,614 crore. The gap between revenue receipts and expenditure resulted in a revenue deficit, the report said, adding that spending on the capital account was just ₹61,644 crore or merely 13% of the total expenditure in 2022-23. The CAG recommended that the state government formulate “a realistic budget based on reliable assumptions” that considers the needs of the various departments and their capacity to utilise the allocated resources.

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History of this topic

Maharashtra seeks ₹35,788 cr for unscheduled expenses, including Ladkin Bahin
1 week ago

Maharashtra seeks ₹35,788 cr for unscheduled expenses, including Ladkin Bahin

Hindustan Times  

NAGPUR: The state government presented supplementary demands amounting to ₹35,788 crore on the first day of the winter session of the state legislature. Maharashtra Chief Minister Devendra Fadnavis Maharashtra’s budget is ₹6.69 lakh crore and the supplementary demands are an additional budget aimed at meeting unplanned expenditure. In July, the government tabled supplementary demands amounting to ₹94,889 crore, owing to …

TN's contribution to Indian economy better, GSDP up by 14 per cent: CAG
1 week, 5 days ago

TN's contribution to Indian economy better, GSDP up by 14 per cent: CAG

Deccan Chronicle  

With its per capita income far exceeding the national average, Tamil Nadu was faring better in its contribution to national economy and the state's industries and services sectors played a pivotal role in increasing the Gross State Domestic Product by 14 per cent in 2022-2023 amounting to Rs 23,64,514 crore, Principal Accountant General, Tamil Nadu, D Jaishankar said on Tuesday.As …

CAG says off-budget liabilities of Andhra at ₹32,903 crore
1 month, 1 week ago

CAG says off-budget liabilities of Andhra at ₹32,903 crore

Hindustan Times  

The off-budget liabilities of the Andhra Pradesh government stood at ₹32,903 crore at the end of the 2023-24 financial year, the Comptroller and Auditor General of India said in its report tabled in the state assembly on Wednesday. The CAG, which reviewed the state government’s budget for the financial year 2023-24, said the off-budget borrowing is a liability of the …

AP’s Receipts Rs.2.36 Lakh Crore Against Estimated Rs.2.56 Lakh Crore
1 month, 1 week ago

AP’s Receipts Rs.2.36 Lakh Crore Against Estimated Rs.2.56 Lakh Crore

Deccan Chronicle  

Vijayawada: Andhra Pradesh has total receipts of ₹2,36,511 crore against the budget estimate of ₹2,56,865 crore for 2023-24. As per the report on Andhra Pradesh accounts by the principal accountant general for 2023-24, AP registered tax revenue from various heads like Goods and Services Tax – ₹45,003 crore, Taxes on Income and Expenditure – ₹29,892 crore, Taxes on Property and …

Education, welfare in focus of ₹2.94 lakh-cr Andhra budget
1 month, 1 week ago

Education, welfare in focus of ₹2.94 lakh-cr Andhra budget

Hindustan Times  

The Telugu Desam Party-led National Democratic Alliance government in Andhra Pradesh on Monday presented its first full-fledged budget of ₹2,94,427 crore for 2024-25, five months after coming to power. Finance minister Payyavula Kesav told the state legislative assembly that the budget included revenue expenditure of ₹2,35,916 crore and capital expenditure of ₹32,712 crore. The NDA government under chief minister N …

Chandigarh suffers ₹240 crore revenue loss in first half of fiscal year
1 month, 2 weeks ago

Chandigarh suffers ₹240 crore revenue loss in first half of fiscal year

Hindustan Times  

The UT administration has suffered a revenue loss of ₹240 crore in the first half of the 2024-25 fiscal, data from the Comptroller and Auditor General of India has revealed. The capital expenditure, which include funds designated for development projects and asset creation, have also been come down-- from ₹ 722 crore in 2023 to ₹ 655 crore in 2024. …

State Revenue Collection: A Mixed Bag
1 month, 4 weeks ago

State Revenue Collection: A Mixed Bag

Deccan Chronicle  

The state government's revenue receipts have shown a mixed performance in the first half of the current fiscal year 2024-25. While tax revenue earnings have been impressive, non-tax revenue collections have been disappointing. The state has incurred a significant amount of loans and other liabilities, which has impacted its revenue inflows. Despite these challenges, the state has managed to achieve …

U.P. govt mops up over ₹98k cr tax revenue in six months
2 months, 2 weeks ago

U.P. govt mops up over ₹98k cr tax revenue in six months

Hindustan Times  

The Uttar Pradesh government has earned higher tax and non-tax revenue in the first six months of 2024-25 vis-a-vis the previous financial year, collecting tax revenue of ₹98,886.75 crore from April 1 to September 30, 2024. Other main tax revenue earners for the state government included excise with collections of ₹22,564.29 crore from this head. The state government’s non-tax revenue …

U.P govt’s revenue earnings up by ₹1725.83 crore in August
3 months, 2 weeks ago

U.P govt’s revenue earnings up by ₹1725.83 crore in August

Hindustan Times  

The Uttar Pradesh government on Thursday claimed an increase of ₹1725.83 crore in tax and non-tax revenue earnings in August 2024 with the total collections going up to ₹15,969.65 crore vis-a-vis ₹14,243,82 crore earned in the same month in 2023. The state government’s tax collections in the first five months of 2024-2025 are 76 per cent of the target going …

Telangana reported huge jump in tax revenue, state tells CAG
4 months, 2 weeks ago

Telangana reported huge jump in tax revenue, state tells CAG

Deccan Chronicle  

Hyderabad: The Telangana state government reported a significant increase in its tax revenue for the first quarter of the fiscal year 2024-25, with collections rising by over Rs 3,600 crore compared to the same period last year. The state's tax revenue reached Rs 34,609 crore in the April-June quarter, according to the income and expenditure report submitted to the Comptroller …

Bihar witnessing high growth amid rising fiscal stress: CAG report
4 months, 3 weeks ago

Bihar witnessing high growth amid rising fiscal stress: CAG report

Hindustan Times  

The state finances audit report of Bihar for the financial year 2022-23, which was tabled in the assembly on Thursday, highlighted the challenges of the rising fiscal stress in the state despite its growing gross state domestic product at 15.55% over the last year. The fiscal deficit, the gap between the total expenditure and total non-debt receipt of the state …

Bihar spent only 77.95% of the total budget ended in March 2023, surrendered 30.86% : CAG report
4 months, 3 weeks ago

Bihar spent only 77.95% of the total budget ended in March 2023, surrendered 30.86% : CAG report

The Hindu  

The latest Comptroller and Auditor General of India report for the year ended March 2023 said that the Bihar Government spent only 77.95% of the total Budget and surrendered 30.86% of the total savings. “The State spent only ₹2,35, 176.84 crore and surrendered ₹20, 526.71 crore of the total savings of ₹66,509.62 crore,” said the CAG report for the FY2022-23. …

Mahayuti tables demand of ₹95,000 crore to fund populist schemes ahead of polls
5 months, 2 weeks ago

Mahayuti tables demand of ₹95,000 crore to fund populist schemes ahead of polls

Hindustan Times  

Mumbai: Merely a week after the ₹6,12,293 crore budget for 2024-25 was presented, the state government tabled the supplementary demands of ₹94,889 crore, making it the highest ever in history. The supplementary demands mostly aim to finance the populist schemes announced in the budget in anticipation of the upcoming Assembly polls scheduled for October this year. Jayant Patil, former finance …

Maharashtra economic growth to fall from 9.4% to 7.6% in 2023-24
5 months, 3 weeks ago

Maharashtra economic growth to fall from 9.4% to 7.6% in 2023-24

Hindustan Times  

Mumbai: Maharashtra’s economy is expected to grow at 7.6% in the financial year 2023-24, which is at par with the growth of the Indian economy but lower than 9.4% recorded in 2022-23, according to the state’s latest economic survey. The state’s per capita income is expected to grow to ₹2,77,603 in 2023-24 from ₹2,52,389 crore in 2022-23. Deputy chief minister …

U.P. govt collected ₹2,813 cr more revenue in Feb this year
9 months, 2 weeks ago

U.P. govt collected ₹2,813 cr more revenue in Feb this year

Hindustan Times  

The Uttar Pradesh government on Monday claimed an increase of ₹2,813.88 crore in its revenue collections in February 2024. Minister for finance Suresh Khanna, briefing media persons, said the state government collected a revenue of ₹17,742.67 crore, 77.5 percent of the target of ₹22,888.79 crore in February 2024. government collected a tax revenue of ₹ 1,73,381.51 crore till February 29. …

Fiscal deficit at Jan-end touches 63.6 pc of full year target, says govt data
9 months, 3 weeks ago

Fiscal deficit at Jan-end touches 63.6 pc of full year target, says govt data

Hindustan Times  

The government's fiscal deficit at ₹11 lakh crore at January end touched 63.6 per cent of the revised annual target, according to the official data released on Thursday. The government's total receipts stood at ₹ 22.52 lakh crore as of January 2024 In the corresponding period last year, the fiscal deficit or gap between the expenditure and revenue was 67.8 …

Ajit Pawar presents interim budget, state debt reaches ₹7.82 lakh crore
9 months, 3 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, 1 week 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 …

CAG finds fault with Kerala’s off-Budget borrowings again
10 months, 1 week ago

CAG finds fault with Kerala’s off-Budget borrowings again

The Hindu  

Off-Budget borrowings have yet again drawn the criticism of the Comptroller and Auditor General of India whose latest audit report was tabled in the Kerala Legislative Assembly on February 15. Apart from borrowings made by the Kerala Infrastructure Investment Fund Board and the Kerala Social Security Pension Ltd, the borrowings under a bill discounting system also have drawn flak this …

Assam govt presents ₹774.47 crore deficit budget; no new taxes proposed
10 months, 1 week ago

Assam govt presents ₹774.47 crore deficit budget; no new taxes proposed

Hindustan Times  

With no new taxes proposed, Assam finance minister Ajanta Neog on Monday presented the state’s ₹774.47 cr deficit budget for 2024-25 financial year. Addressing the ongoing budget session, Neog mentioned that the total budget for the coming financial year will be ₹2.9 lakh crore. If we take into account the deficit of ₹2369.41 crore at the start of the financial …

Uttar Pradesh Finance Minister Suresh Kumar Khanna presents ₹7.36 lakh crore budget for FY-25 in State Assembly
10 months, 2 weeks ago

Uttar Pradesh Finance Minister Suresh Kumar Khanna presents ₹7.36 lakh crore budget for FY-25 in State Assembly

The Hindu  

Uttar Pradesh Finance Minister Suresh Kumar Khanna on February 5 presented the budget for financial year 2024-25 in the State Assembly with an outlay of ₹7.36 lakh crore, higher from current fiscal's budget of ₹6.90 lakh crore. The total outlay of ₹7,36,437.71 crore for the next fiscal includes new schemes worth ₹24,863.57 crore, the State Finance Minister said while presenting …

Sluggish pace of growth in revenue receipts in Telangana continue at the end of Q3
10 months, 3 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 …

Union Budget fiscal deficit for 2024-25 at 5.1% compared to 5.8% in FY24
10 months, 3 weeks ago

Union Budget fiscal deficit for 2024-25 at 5.1% compared to 5.8% in FY24

The Hindu  

The revised fiscal deficit for financial year 2024-25 is estimated at 5.1 per cent of the GDP, down from 5.8 per cent for the current financial year 2024, Union Minister Nirmala Sitharaman announced in her interim Budget speech on Thursday. As per data released by the Controller General of Accounts on Wednesday, the Union government’s fiscal deficit touched ₹9.82 lakh …

Kerala’s public debt comes down to ₹2.38 lakh crore
10 months, 3 weeks ago

Kerala’s public debt comes down to ₹2.38 lakh crore

The Hindu  

Amid the financial strains that put the Kerala government in a fix making it difficult for it to meet its fiscal obligations efficiently, a document tabled by Finance Minister K.N. Balagopal in the Assembly on Tuesday revealed that the State’s public debt has come down to ₹2.38 lakh crore at the end of March 2022-2023. As per the accounts of …

Consistent increase in 2023-24 revenue collections: UP govt
1 year ago

Consistent increase in 2023-24 revenue collections: UP govt

Hindustan Times  

LUCKNOW The UP government on Tuesday claimed a consistent increase in its revenue receipts with a collection of ₹2,580.78 crore more in November this year. We have maintained transparency in the release of data about tax and non-tax collections,” said minister for revenue Suresh Khanna while releasing the details about the state government’s total revenue collections. The state government’s non-tax …

Revenue deficit of Andhra Pradesh crosses budget estimates in first quarter itself
1 year, 2 months ago

Revenue deficit of Andhra Pradesh crosses budget estimates in first quarter itself

The Hindu  

The statement on the quarterly review of the trends in receipts and expenditure in relation to the budget at the end of the first quarter of the 2023-24 financial year presents a grim picture of the State government’s finances. According to the report, the revenue deficit exceeded the budget estimates for the financial year 2023-24 in the first quarter itself. …

Former A.P. Finance Minister Yanamala Ramakrishnudu seeks clarification on CAG’s findings on State’s fiscal position
1 year, 4 months ago

Former A.P. Finance Minister Yanamala Ramakrishnudu seeks clarification on CAG’s findings on State’s fiscal position

The Hindu  

Former Finance Minister and TDP Politburo member Yanamala Ramakrishnudu wrote a letter to Special Chief Secretary S.S. Rawat on August 23, seeking a clarification whether the recent findings of the Comptroller & Auditor General of India on the State’s financial position in FY 2021-22 reflect the true picture. He stated that two inevitable conclusions could be drawn from the CAG’s …

CAG points out poor planning in TS Budget, unspent funds
1 year, 4 months ago

CAG points out poor planning in TS Budget, unspent funds

Deccan Chronicle  

Hyderabad: The CAG report tabled in the Legislative Assembly on Sunday revealed improper Budget planning and implementation of schemes and programmes which were not envisaged in the Budget. The CAG stated that Rs 7,222 crore was allocated for housing in the Budget but the actual expenditure was just Rs 252 crore, down by 97 per cent. The state government allocated …

Telangana Stares at Rs 9,335 Cr Revenue Deficit for 2021-22 FY
1 year, 4 months ago

Telangana Stares at Rs 9,335 Cr Revenue Deficit for 2021-22 FY

Deccan Chronicle  

Hyderabad: Telangana state, which had revenue surplus up to 2018-19, faces a revenue deficit of Rs 9,335 crore though it was lower than the Rs 22,298 crore deficit in 2020-21, the Comptroller and Auditor General said in a report. Around 50 per cent of the revenue receipts, Rs 1,27,469 crore, was spent on committed expenditure like salaries Rs 30,375 crore, …

Centre's fiscal deficit for 2022-2023 narrows to 6.4 pc of GDP | DEETS inside
1 year, 6 months ago

Centre's fiscal deficit for 2022-2023 narrows to 6.4 pc of GDP | DEETS inside

India TV News  

Centre's fiscal deficit : Finance Minister Nirmala Sitharaman's anticipation for the Centre's fiscal deficit came true as it narrowed to 6.4 per cent of the GDP in 2022-2023 from 6.71 per cent in FY22. The government earlier aimed to further bring down the fiscal deficit during the current financial year 2023-24 to 5.9 per cent of the GDP. Aditi Nayar, …

Fiscal deficit dips as Delhi government changes formula
1 year, 9 months ago

Fiscal deficit dips as Delhi government changes formula

The Hindu  

Delhi’s fiscal deficits for 2020-21 and 2022-23 have seen a fall after a change by the AAP government in the calculation formula, showed budget documents. However, last year’s budget documents showed that the fiscal deficit for 2020-21 was ₹9,972 crore. The fiscal deficit, according to last year’s budget document, is calculated as sum of ‘revenue receipts’, ‘recoveries of loans’ 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 …

W.B. Budget for 2023-24 broadens welfare schemes, gives incentives to jobs
1 year, 10 months ago

W.B. Budget for 2023-24 broadens welfare schemes, gives incentives to jobs

The Hindu  

With an eye on the upcoming panchayat polls, the West Bengal government’s Budget for the year 2023-24 on Wednesday widened the ambit of social welfare schemes like Lakshmi Bhandar, added a new scheme providing death benefits for fishermen, promised financial assistance for micro-enterprise and allocated ₹3000 crore for rural road connectivity and repair of urban roads in the State. Minister …

State’s tax burden shoots up to Rs 3.57 lakh crore
1 year, 10 months ago

State’s tax burden shoots up to Rs 3.57 lakh crore

Deccan Chronicle  

HYDERABAD: The debt burden on the state government will increase to Rs 3.57 lakh crore in 2023-24, according to the Budget. In 2020-21, the debt burden state was Rs 2,44,019 crore, which was 25.4 per cent of GSDP. In 2022-23, the debt burden increased to Rs 3,22,993 crore as per the revised estimates, which was 24.3 per cent of GSDP. …

Telangana presents massive budget of ₹2.9 lakh crore for 2023-24 fiscal
1 year, 10 months ago

Telangana presents massive budget of ₹2.9 lakh crore for 2023-24 fiscal

The Hindu  

The Telangana State Government has presented a massive ₹2.90 lakh crore budget for the next financial year 2023-24. The budget has projected revenue receipts to the tune of ₹2.16 lakh crore in the next fiscal, close to ₹40,000 crore higher than the current year’s revised estimates which pegged the revenue receipts at ₹1.75 lakh crore. The revenue receipts for the …

State economy clocked 12.01% growth in 2021-22: Economic Review
1 year, 10 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 …

Fiscal deficit touches 32.6% of annual target till August this fiscal: official data
2 years, 2 months ago

Fiscal deficit touches 32.6% of annual target till August this fiscal: official data

The Hindu  

The Central government's fiscal deficit touched 32.6% of the annual target in the current financial year till August as against 31.1% recorded a year earlier, according to official data released on Friday. In actual terms, the fiscal deficit — the difference between expenditure and revenue — was ₹5,41,601 crore during the April-August period of this financial year. As per the …

CAG pegs Andhra Pradesh’s off-budget borrowings at ₹86,260 crore in 2020-21
2 years, 3 months ago

CAG pegs Andhra Pradesh’s off-budget borrowings at ₹86,260 crore in 2020-21

The Hindu  

The Comptroller and Auditor General of India, in its State Finances Audit Report for the Financial Year 2020-21, said that the State government had a liability for off-budget borrowings amounting to ₹86,260 crore, which was not disclosed appropriately in its budget documents. Revenue receipts The CAG mentioned that the State witnessed a 5.50% increase in revenue receipts during the year …

Fiscal deficit touches 20.5% of annual target in April-July: official data
2 years, 3 months ago

Fiscal deficit touches 20.5% of annual target in April-July: official data

The Hindu  

The Central Government's fiscal deficit touched 20.5% of the annual target at the end of July 2022-23 against 21.3% a year ago, reflecting improvement in public finance, as per official data released on Wednesday. As per the data released by the Controller General of Accounts, the government's receipts, including taxes, stood at ₹7.85 lakh crore or 34.4% of the Budget …

Explained | Kerala’s mounting public debt
2 years, 4 months ago

Explained | Kerala’s mounting public debt

The Hindu  

The story so far: Over the past few months, Kerala’s mounting debt liabilities have been brought into sharp focus with the Reserve Bank of India, the Comptroller and Auditor General, and the opposition Congress-led United Democratic Front flagging the issue. Kerala Infrastructure Investment Fund Board A body corporate constituted by the Government of Kerala to mobilise financial resources outside of …

India's Fiscal Deficit Hits 12.3% Of Full-Year Target Till May-End; Govt Expenditure At Rs 5.85 Lakh Crore
2 years, 5 months ago

India's Fiscal Deficit Hits 12.3% Of Full-Year Target Till May-End; Govt Expenditure At Rs 5.85 Lakh Crore

News 18  

India’s fiscal deficit during April-May hit Rs 2,03,921 crore, or 12.3 per cent of the target for the entire current financial year, mainly due to higher expenditure, according to official data. The fiscal deficit, which is the difference between the government’s total expenditure and revenue, had stood at 8.2 per cent of the FY22 budget estimate during the corresponding period …

Data | Poor revenues, higher spending increased debt burden of ten Indian States
2 years, 5 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 …

AP govt presents Rs 2.56 lakh crore budget for 2022-23
2 years, 9 months ago

AP govt presents Rs 2.56 lakh crore budget for 2022-23

Deccan Chronicle  

Amaravati: The Andhra Pradesh government on Friday presented the Budget for 2022-23 with a proposed expenditure of Rs 2.56 lakh crore and a projected revenue deficit of Rs 17,036 crore. Finance Minister Buggana Rajendranath presented the ambitious budget although the government fell short of its expenditure estimates in 2021-22 by a whopping Rs 55,182 crore. With the next assembly elections …

Andhra Pradesh\'s buoyancy on revenue front, despondency on the other
2 years, 10 months ago

Andhra Pradesh\'s buoyancy on revenue front, despondency on the other

Deccan Chronicle  

Amaravati: Andhra Pradesh's revenues showed a buoyant growth at the end of the third quarter of the 2021-22 financial year but the overall economic situation remained “beyond alarming” because of a 918 per cent revenue deficit, coupled with a 156.93 per cent fiscal deficit. Interestingly, the state government borrowed Rs 58,111.85 crore in the first 9 months of the current …

Centre's fiscal deficit at ₹5.47 lakh crore at end-October
3 years ago

Centre's fiscal deficit at ₹5.47 lakh crore at end-October

The Hindu  

The Union government's fiscal deficit works out to be ₹5.47 lakh crore or 36.3% of the budget estimates at the end of October 2021 on the back of improvement in revenue collection, according to the data released by the Controller General of Accounts on Tuesday. Commenting on the data, Aditi Nayar, Chief Economist, ICRA Limited, said despite the likely revenue …

Andhra Pradesh's revenue deficit soars 662 per cent in H1
3 years, 1 month 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, …

‘Time not ripe for fiscal consolidation’
3 years, 4 months ago

‘Time not ripe for fiscal consolidation’

The Hindu  

The time is not yet ripe for fiscal consolidation, and deeper reforms will be undertaken as soon as the impact of the COVID-19 pandemic is overcome, Finance Minister Palanivel Thiaga Rajan said on Friday. “An effective Samadhan Scheme will be launched to clear the pending dues of ₹28,000 crore under the Tamil Nadu Value Added Tax and other legacy legislation.” …

AP Govt's Borrowings for First Half of 2020-21 Fiscal Far Exceeded Revenues, Says CAG Report
4 years, 1 month ago

AP Govt's Borrowings for First Half of 2020-21 Fiscal Far Exceeded Revenues, Says CAG Report

News 18  

The Andhra Pradesh government’s borrowings for the first half of the 2020-21 fiscal far exceeded revenues and the revenue deficit touched a staggering Rs 45,472.77 crore, according to the state finance accounts released by the Comptroller and Auditor General. AP’s tax revenue during the April-September period was just Rs 29,936.39 crore, compared to Rs 41,904.25 crore during the corresponding period …

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