HomeEconomicsStates Debt to Stay Elevated at 31-32% This Fiscal : Report

States Debt to Stay Elevated at 31-32% This Fiscal : Report

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States debt to stay elevated at 31-32% this fiscal: Report
  1. States’ debt projected to remain elevated at 31-32% of GSDP due to increased capital spending and moderate revenue growth.
  2. Fiscal deficit expected to be maintained at 2.5% of GSDP, below the mandated 3% level under the FRBM Act.
  3. Borrowing surge driven by lower revenue growth, meeting high committed expenditures, and expanding capital outlays.
  4. Revenue to grow by 6-8%, while expenditure set to rise by 8-10%, notably on social welfare and health expenses.
  5. Anticipated increase in borrowings by Rs 7.5 lakh crore, crossing Rs 87 lakh crore; state development loans rose by 28% from April to November 2023.
SourceNews 18

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