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Top Indian states` spending on social welfare set to touch 10-year high of Rs 4 lakh crore in FY24: Crisil Domestic rating agency Crisil in its latest report has said that top Indian states' spending on social welfare is set to touch a 10-year high of Rs 4 lakh crore, or 1.7 per cent of their combined Gross State Domestic Product (GSDP), in the ongoing fiscal (FY24). After analysing budgets of top 11 states, which account for over three-fourths of the aggregate GSDP, it said the growth in social welfare schemes is expected to clock a 16 per cent jump in compounded annual growth rate between 20...
Top Indian states` spending on social welfare set to touch 10-year high of Rs 4 lakh crore in FY24: Crisil
Top Indian states` spending on social welfare set to touch 10-year high of Rs 4 lakh crore in FY24: Crisil
Source: Accord Fintech
24/08/2023 12:50:52 PM
Unless Tamil Nadu widens revenue base, state could slip into debt trap: Experts Tamil Nadu will fall into a debt trap if the government continues to borrow to pay the old debt without focusing on infrastructure development, attracting real investments in manufacturing, preventing leakage, widening tax base and boosting the investors confidence, said experts. "Is Tamil Nadu moving towards a debt trap? The answer is a sound yes," said Sriram Seshadri, Founder and Managing Partner, Disha Consulting and formerly Partner and Managing Director, Accenture India, to...
Unless Tamil Nadu widens revenue base, state could slip into debt trap: Experts
Unless Tamil Nadu widens revenue base, state could slip into debt trap: Experts
Source: IANS
11/06/2023 6:13:01 PM
Odisha Government confident public debt to stay within limit of 25% of GSDP The debt level of Odisha is now within the stipulated limit and it is expected to increase by 4 per cent by the end of financial year 2026-27, according to the status paper published by the Odisha Finance department on public debt. As per the report, the total outstanding public debt of the state as per the revised estimate for the financial year 2022-23 stood at Rs 97,037 crore, which is 12.7 per cent of the State's Gross Domestic Product (GSDP). Over the next three years, total pu...
Odisha Government confident public debt to stay within limit of 25% of GSDP
Odisha Government confident public debt to stay within limit of 25% of GSDP
Source: IANS
11/06/2023 12:28:40 PM
UP`s debt burden to touch Rs 7.84 tn in FY 2023-24, 40% higher than before Even as the Reserve Bank of India (RBI) has claimed that the collective debt of states as a percentage of the GDP is expected to decrease to 29.5 per cent in 2022-23 -- compared to 31.1 per cent in 2020-21 -- the debt burden of Uttar Pradesh is estimated to touch Rs 7.84 trillion in the next fiscal year 2023-24 - almost 40 per cent higher. With general elections round the corner and the Yogi Adityanath government pushing populist schemes, financial experts feel that the debt could rise fur...
UP`s debt burden to touch Rs 7.84 tn in FY 2023-24, 40% higher than before
UP`s debt burden to touch Rs 7.84 tn in FY 2023-24, 40% higher than before
Source: IANS
10/06/2023 2:16:58 PM
Hyderabad Pharma City will be world's largest pharma cluster: KTR Telangana has undertaken massive infrastructure development projects to compete globally and attract investments, state Industries and Commerce Minister K.T. Rama Rao said on Tuesday. The initiatives include the construction of the Kakatiya Mega Textile Park, the largest textile park in India, and Hyderabad Pharma City, which is poised to become the world's largest pharma cluster, he noted. Telangana has also made significant strides in the pharma sector, with the establishment of t...
Hyderabad Pharma City will be world's largest pharma cluster: KTR
Hyderabad Pharma City will be world's largest pharma cluster: KTR
Source: IANS
7/06/2023 9:41:52 AM
Meghalaya Chief Minister Conrad Sangma presents deficit budget of Rs 1,592cr Meghalaya Chief Minister Conrad Sangma, who also holds the Finance portfolio, on Thursday presented a deficit budget of Rs 1,592 crore for the fiscal year 2023-24 This deficit amount is almost 3.42 per cent of the gross state domestic product (GSDP). Though the opposition criticised the high deficit amount in the budget, the Chief Minister termed it as a 'people's budget'. He said: "I am happy to announce that the estimated capital outlay for 2023-24 is 14 per cent h...
Meghalaya Chief Minister Conrad Sangma presents deficit budget of Rs 1,592cr
Meghalaya Chief Minister Conrad Sangma presents deficit budget of Rs 1,592cr
Source: IANS
24/03/2023 9:20:24 AM
Delhi government tables Eco Survey, per capita income grew by 14.18% in 2022-23  The national capital's per capita income grew by 14.18 per cent at the current prices in 2022-23 to Rs 4,44,768 compared to Rs 3,89,529 during 2021-22, the Delhi Economic Survey has said. The survey was tabled by Delhi Finance Minister Kailash Gahlot on Monday in the Assembly. According to the survey report, the per capita income in the capital has always been around 2.6 times higher compared to the national average both at the current and constant prices. "The per cap...
Delhi government tables Eco Survey, per capita income grew by 14.18% in 2022-23
Delhi government tables Eco Survey, per capita income grew by 14.18% in 2022-23
Source: IANS
20/03/2023 3:23:55 PM
Odisha Government presents Rs 2.30L cr budget for 2023-24 Odisha Finance Minister Niranjan Pujari on Friday presented the annual budget of Rs 2.30 lakh crore for the year 2023-24 in the state Assembly. The outlay is 15 per cent more than the full-fledged budget of 2022-23. Pujari said the programme budget has been increased by 35 times from Rs 3,538 crore in 2000-01 to Rs.1,25,000 crore in 2023-24 budget estimates. The allocation for the programme expenditure is about 54 per cent of the total budgetary outlay. Similarly, capital outlay has gon...
Odisha Government presents Rs 2.30L cr budget for 2023-24
Odisha Government presents Rs 2.30L cr budget for 2023-24
Source: ians
25/02/2023 9:26:00 AM
Haryana`s growth rate pegged at 7.1%: Chief Minister Manohar Lal Khattar Haryana Chief Minister Manohar Lal Khattar on Thursday in his Budget speech said the state's growth rate was estimated to be at 7.1 per cent. "This budget also reflects our commitment for the development of the state as per the Sustainable Development Goal (SDG) Vision -- 2030. Haryana contributes about 3.86 per cent to India's Gross Domestic Product (GDP), which is more than proportionate to its size or population. "It is a matter of pride for Haryana that the GSDP gr...
Haryana`s growth rate pegged at 7.1%: Chief Minister Manohar Lal Khattar
Haryana`s growth rate pegged at 7.1%: Chief Minister Manohar Lal Khattar
Source: IANS
24/02/2023 9:13:50 AM
Bengal Budget : State's accumulated debt to rise to Rs 6.47L cr by March 2024  As West Bengal's Minister of State for Finance, Chandrima Bhattacharya, presented the state Budget for the financial year 2023-24 on Wednesday, the budget documents projected the total accumulated debt of the state government to rise to Rs 6,47,825.52 crore by the end of the fiscal under review. This means that the accumulated debt figures by March 2024 will rise by 10.40 per cent from the figures of Rs 5,86,124.63 crore as per the revised estimates for 2022-23. As of March 2011,...
Bengal Budget : State's accumulated debt to rise to Rs 6.47L cr by March 2024
Bengal Budget : State's accumulated debt to rise to Rs 6.47L cr by March 2024
Source: IANS
16/02/2023 10:34:01 AM
Bengal economy: Current fiscal to end with per capita debt of Rs 59K West Bengal government is all set to end the current financial year of 2022-23 with a per capita debt of around Rs 59,000. The figure on this count is in sharp contrast to Rs 20,530 during the financial year of 2010-11, which was the last year of the 34-year Left Front rule in the state. As per the revised estimates in the last state budget, the accumulated debt for 2022-23 is expected to rise to 5.86 lakh crore up from Rs 5.28 lakh crore as on March 31, 2022. Again, this figure is i...
Bengal economy: Current fiscal to end with per capita debt of Rs 59K
Bengal economy: Current fiscal to end with per capita debt of Rs 59K
Source: IANS
1/01/2023 2:36:36 PM
Indian states seek greater fiscal space from federal government Indian states asked the federal finance ministry for greater budgetary autonomy and fiscal space, officials said after a budget consultation meeting in New Delhi on Friday. The fiscal deficit limit should be set at 4% of gross state domestic product (GSDP) for states and borrowing limits should be increased, Vijay Kumar Choudhary, finance minister of the state of Bihar, said after the meeting. The federal government fixes the permissible budget gap. It was set at 3.5% of GSDP for 2022-2...
Indian states seek greater fiscal space from federal government
Indian states seek greater fiscal space from federal government
Source: Reuters
26/11/2022 11:14:12 AM
Indebtedness of states to remain elevated at 30-31% of GSDP in FY23: CRISIL CRISIL in its latest report has said that the aggregate indebtedness of states - measured by debt to gross state domestic product (GSDP) - is expected to remain elevated at 30-31% this fiscal (FY23), almost similar to 31.5% seen in fiscal 2022. It stated sticky revenue expenditure and the need for higher capital outlays, along with modest revenue growth, will keep borrowings up this fiscal. That said, the Centre’s announcement last budget to provide special assistance of Rs 1 lakh cr...
Indebtedness of states to remain elevated at 30-31% of GSDP in FY23: CRISIL
Indebtedness of states to remain elevated at 30-31% of GSDP in FY23: CRISIL
Source: Accord Fintech
11/11/2022 11:14:31 AM
Off-balance sheet borrowings of states at decade’s highest: Crisil Crisil in its latest report has said that states have done off-balance-sheet borrowings through various entities in FY22, resulting in a 1 percentage point increase in such hidden loans to 4.5 per cent of Gross State Domestic Product (GSDP). The report by Crisil, based on an analysis of 11 states accounting for three-quarters of GSDP, warned that this will impact the badly-needed capital expansion measures by the states as resources will be ploughed to service debt. The Indian economy has ...
Off-balance sheet borrowings of states at decade’s highest: Crisil
Off-balance sheet borrowings of states at decade’s highest: Crisil
Source: Accord Fintech
5/05/2022 11:18:51 AM