Bihar and Andhra Pradesh, the two states demanding special-category status or special economic packages on account of their ruling parties' heft in the central government, run high debt as a proportion of their gross state domestic product (GSDP) even as their level of prosperity differs.
For instance, sovereign debt constituted 39 per cent of the GSDP of Bihar in 2022-23, while it was projected to be 32.4 per cent in the Revised Estimates (RE) of Andhra Pradesh.
Both states have projected their debt to constitute at least 33 per cent of their respective GSDP for 2023-24 (Budget Estimates).
If one takes the last 10 years, debt remained manageable from 2014-15 to 2017-18 in Bihar despite prohibition from 201617, which hit the exchequer by around 1,500 crore or around 5 per cent of the state's own tax revenues (OTR) in the first year of the liquor ban. The state ran a revenue surplus till 2019-20.
Denne historien er fra June 17, 2024-utgaven av Business Standard.
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Denne historien er fra June 17, 2024-utgaven av Business Standard.
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