State Fiscal Deficits

Adequate monetary provision for 'Ladki Bahin' scheme: Dy CM Ajit Pawar

Maharashtra Deputy Chief Minister Ajit Pawar on Thursday said adequate monetary provision has been made for the 'Ladki Bahin Yojana', the state government's financial assistance scheme for women. Pawar was responding to the opposition's criticism that the scheme was putting a financial strain on the state treasury. The 'Mukhyamantri Majhi Ladki Bahin Yojana' is a flagship programme of the Eknath Shinde-led Mahayuti government, under which eligible women are given Rs 1,500 assistance per month. "I am the Finance Minister of the state. I can confirm that our annual revenue stands at around Rs 42-43 lakh crore. We are adhering to the fiscal framework designed for the state by the Centre, and we have not exceeded those calculations. I have handled the finance portfolio for over 10 years and presented several budgets during that time," he said while talking to reporters. Salaries, pensions, repayment of the loan have to be given priority in the budget, and the remaining funds are used .

Himachal mulls freebies rollback: Why is the state in a financial tangle?

Promises like reviving the Old Pension Scheme (OPS), paying Rs 1,500 to women, and providing free power have contributed to the financial strain, with the state now facing a debt of Rs 86,589 crore

Andhra Pradesh debt at Rs 9.74 trn: Naidu in white paper on finances

The CM alleged that the YSRCP government's five-year tenure was marked by lack of capital expenditure, reduced private investments, and a revenue loss of Rs 7 trillion

Politicians dole out sops to woo Andhra voters despite rising debt in state

Ahead of the Assembly polls, the state's economic health is in focus as it has consistently breached the fiscal deficit in eight of the last 10 years since Telangana's formation

States fiscal deficits for FY24 likely to be close to 3.1% of GDP: Citi

The report suggests grants from Centre to states have been falling due to no GST compensation funds and lower finance commission grants

Centre must be concerned with fiscal mismanagement of states: Supreme Court

Fiscal mismanagement by states is an issue the union government has to be concerned about as it impacts the nation's economy, the Supreme Court observed on Wednesday and advised the Centre and the Kerala government to iron out their differences a cap on net borrowing by the southern state. The apex court made the observation while it was hearing a suit filed by the Kerala government accusing the Union of India of interfering in the exercise of its "exclusive, autonomous and plenary powers" to regulate the state's finances by imposing a ceiling on borrowing. The dialogue between the Centre and the state must not stop merely because of the pending suit, the court said while stressing on the need to resolve the issue. "Let all the senior officials who are capable to take decision and who are already involved in decision making sit together and resolve this," a bench of Justices Surya Kant and K V Viswanathan said. The Kerala government had told the top court on February 19 that a ...

Budget 2024 LIVE updates: Govt raises import duty on gold, silver jewellery

Union budget 2024: Govt will table the interim budget where focus will likely be on controlling fiscal deficit and supporting agri ahead of the elections. Catch all the budget-related live updates

High indebted Punjab, Himachal may breach BE of fiscal deficit in FY24

Punjab had over 40% debt as a proportion of GSDP in 2019-20 too, while Himachal Pradesh had 39.1%

Twelve of 31 states, UTs project debt more than 35% of GSDP at FY24 end

It is not that only the poor states such as Bihar have high debt in proportion to their GSDP

US trade deficit widens to 6-month high, expected to dent economic growth

Stocks on Wall Street were trading mostly lower. The dollar slipped against a basket of currencies. US Treasury prices fell

New Delhi to meet fiscal target in coming year, capex a longer shot

A key government objective is to bring the deficit down to 4.5% of GDP by 2025/26. Respondents were evenly split on whether it would succeed

States do Centre a good turn

A sharp reduction in states' deficit augurs well for the Centre's fiscal planning

Indian states' fiscal deficit rose nearly 79 per cent after lockdown: RBI

The RBI's Handbook of Statistics on Indian States showed that apart from Arunachal Pradesh, Haryana, Sikkim and Odisha, all the states saw a higher fiscal deficit in FY21 as compared to FY20

S&P affirms Kerala's 'BB-/B' rating, gives outlook stable to state

Deficits resulting from spending on socio-economic programmes constrain ratings for the state: Agency

Sri Lanka Crisis: Are Indian states on the same path to economic distress?

The RBI, in a report in June 2022, said that several Indian states are posting worrisome numbers, mainly due to populist measures

FY23 Outlook: States' deficit expected at 3.6% of GDP, says Ind-Ra

"The revision was made due to better-than-expected growth in revenue receipts and higher growth in the nominal GDP in FY22," the agency said

States' fiscal deficit to stand at 3.6% in FY23, India Ratings

Revising outlook on state finances to improving in FY23 from, Ind-Ra expects the aggregate fiscal deficit of states to stand at 3.6% of their GDP from 3.5% in FY22 on back of robust revenue growth.

Pension bills of states cut into municipal budget in the time of Covid

An RBI analysis showed that during the second wave, 22% of municipalities reported revenue loss of an alarming 50% and more

The state of states

India's fiscal challenge can get worse if states spend more even with lower revenue growth

States' fiscal balances stay weaker than pre-Covid levels in Q1 FY2022

The pandemic continues to affect state finances with first quarter revenue and expenditure numbers pointing out that a full economic recovery is still a long road ahead.