Mint Explainer: Which are India’s most indebted states?
DISCOM Assurance Yojana, farm-loan waivers and pandemic-related revenue losses. States have been further hampered by additional expenditures and a slowdown in growth.
Mint takes a look at the most indebted states in the country. The total debt of state governments and union territories hit a record high during FY23, with states such as Tamil Nadu, Uttar Pradesh, Maharashtra, West Bengal, and Rajasthan registering huge on-year increases in their liabilities.
Other states that saw their debt piles increase during the past fiscal include Andhra Pradesh ( ₹442,442 crore), Gujarat ( ₹423,711 crore), Kerala ( ₹390,860 crore), Madhya Pradesh ( ₹378,617 crore), Telangana ( ₹366,306 crore), Punjab ( ₹305,047 crore) and Haryana ( ₹287,266 crore). According to government data, the outstanding liabilities of 28 states rose by over 43% in the three years from March 2020 to March 2023.
It has recommended revenue deficit grants amounting to ₹2,94,514 crore for 17 states from FY22 to FY26. Based on the recommendations, revenue deficit grants of ₹2,04,653 crore were released to states in FY22 and FY23, and ₹17,224 crore has been released in the current fiscal, as of 23 July.
. Read more on livemint.com
