 "Public finance of states to improve in FY22 over earlier projections: IndRa")
Despite the impact of the second Covid wave, states are now better placed in terms of public finances than earlier thought. India Ratings sees a better performance owing to expectations of higher gross domestic product at current prices and revenues in the current financial year.
The rating agency analysed 14 states — Uttar Pradesh, Uttarakhand, Telangana, Tamil Nadu, Odisha, Rajasthan, Punjab, Maharashtra, Madhya Pradesh, Kerala, Karnataka, Jharkhand, Haryana and Chhattisgarh. Of these, two states — Karnataka and Haryana — are projected to witness widening of their fiscal deficit in the current financial year compared to the previous financial year. Uttar Pradesh and Odisha are likely to have the same proportion of fiscal deficit as a percentage of GDP in the current financial year vis-a-vis FY21. The remaining states are seen to be improving on their public finance in FY22 compared to the previous year.
The rating agency analysed 14 states — Uttar Pradesh, Uttarakhand, Telangana, Tamil Nadu, Odisha, Rajasthan, Punjab, Maharashtra, Madhya Pradesh, Kerala, Karnataka, Jharkhand, Haryana and Chhattisgarh. Of these, two states — Karnataka and Haryana — are projected to witness widening of their fiscal deficit in the current financial year compared to the previous financial year. Uttar Pradesh and Odisha are likely to have the same proportion of fiscal deficit as a percentage of GDP in the current financial year vis-a-vis FY21. The remaining states are seen to be improving on their public finance in FY22 compared to the previous year.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%