This is as per the Reserve Bank of India's report on state finances, A Study of Budgets of which highlights Tamil Nadu, Uttar Pradesh, Maharashtra, West Bengal, and Rajasthan as contributing significantly to taking the total debt accumulated by India's state governments and Union Territories (UTS) to a record high during the financial year 2022-23 by registering a huge increase in their liabilities on an annual basis. While trends in state finances usually make the local headlines during elections to an assembly for war over merit or demerits of government spending, the matter has gone beyond election rhetoric, with growing national recognition and uneasiness among policymakers that state debt has spiked considerably and is uncomfortably above the tolerance band.
Underscoring the concern are numbers from the government during the Budget session of Parliament in 2023, which peg a 43 per cent rise in the outstanding liabilities of 28 states in the three years from March 2020 to March 2023. All in all, the outstanding liabilities of all these states are expected to reach Rs 75 lakh crore by the end of FY23, up from Rs 52 lakh crore in March 2020, when the COVID-19 pandemic forced a nationwide lockdown in India. The RBI report flags the spike in debt burdens as a "cause for concern as refinancing this debt over the coming years will keep interest rates in the economy high".
هذه القصة مأخوذة من طبعة August 13, 2023 من The Business Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة August 13, 2023 من The Business Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Smriti Irani furthers 'WeLead' programme
Industry body CII's 'We-Lead' initiative which aims to empower women economically, is set to announce a partnership at World Economic Forum in Davos, for supporting 1 lakh Indian women, BJP leader and former Union Minister Smriti Irani said on Wednesday.
From Company Raj to Company of Loot: The Exploitive Predatory Colonial Legacy of The British Raj
The 17th century was a period of impermanence and economic constraint for the British monarchy, both the House of Tudors and the House of Stuarts.
Cabinet Sets Raw Jute MSP at Rs 5,650/Quintal for 2025-26
The CCEA, led by PM Modi, approved raising raw jute's MSP to Rs 5,650 per quintal for 2025-26
MAGA? IT'S TIME TO MAKE INDIA GREAT AGAIN
Instead of trying to make America great, it's time for these techies to try and make India great. Excuses like India does not have the ecosystem will not work, given that the Narendra Modi government has been working towards improving the system and different sectors are reaping the benefits of it.
Ashwini Vaishnaw meets Swiss Federal Railways delegation
Union Minister Ashwini Vaishnaw, on the sidelines of the World Economic Forum (WEF) meetings in Davos, met Swiss Federal Railways (SBB) delegation, the Railways Minister stated in a post on social media platform X.
Cabinet reviews National Health Mission's achievements
The Union Cabinet, chaired by the Prime Minister Narendra Modi, was apprised of the progress under the National Health Mission (NHM) during the years 202122, 2022-23 and 2023-24.
"80% of Employers Welcome Non-Local Talent, but Only 24% of Candidates Willing to Relocate, Finds WorkIndia Survey"
WorkIndia, a leading platform in job and talent connectivity, has released its comprehensive survey report in 2025, highlighting key trends in employer behaviour, hiring intent, and candidate preferences across India.
BRS Demands White Paper on Previous MoUs at Davos After CM Reddy's Visit
Amid Telangana Chief Minister Revanth Reddy's visit to Davos to attract investments for the state, BRS MLC K Kavitha on Wednesday welcomed the initiative but demanded a \"white paper\" from the Congress government on the status of previous Memorandums of Understanding (MoUs).
Kerala LOP Calls For Probe Into CAG Report On Supply Of Expired Medicines
CAG report reveals supply of expired medicines to 26 hospitals in Kerala during 2016 to 2022
SC Notice to MP on Plea for CBI Probe into Three Dalits' Murder
The Supreme Court on Wednesday issued notice to the Madhya Pradesh government on a plea seeking a CBI/SIT investigation into the murder of a 20-year-old Dalit woman along with her two family members in Madhya Pradesh's Sagar.