States Budget

CAG data shows Haryana, Telangana utilised the highest proportion of BE among 19 states

States and Union Territories will borrow Rs 2.81 trillion in Q3 FY26 through securities, with borrowing patterns shaped by GST changes, redemptions and tax devolution

CAG warns most Indian states of fiscal imprudence as March spending overshoots limits, with key departments exhausting large portions of budgets in the last month of FY24

Hnahthial in Mizoram topped the region, followed by Champhal in the same state

Since Sikkim merged into India in 1975, it has made rapid strides in indicators of economic and social wellbeing, writes Indivjal Dhasmana

Rajasthan Deputy Chief Minister Diya Kumari on Wednesday presented the Budget for the financial year 2025-26 and announced that the government is committed to make the state a USD 350 billion economy. Kumari, who also holds the finance portfolio, said the state government has delivered 58 per cent of its promises made in the election manifesto and has fulfilled 73 per cent of the previous Budget announcements. She announced that as many as 2 lakh new houses will be provided with drinking water connections and on this initiative Rs 400 crore will be spent. She said that nine greenfield expressways will be constructed. Diya Kumari started her Budget speech by presenting the state's income expenditure estimates for the year 2025-26. Starting the Budget session, Assembly Speaker Vasudev Devnani said the government will respond to issues raised by the Opposition after the Zero Hour on February 20. It is pertinent to note that the Opposition Congress is demanding the government's respo

Finance ministers of states demanded an increase in allocation of 50-year interest free loan, while fiscally stressed states like Punjab and Kerala pitched for a special package and borrowing flexibility, sources said. In a pre-budget meeting with Union Finance Minister Nirmala Sitharaman, states have also urged for higher borrowing limits to support fiscal activities, besides additional funds for Jal Jeevan Mission to arrange for tanks and storage to enhance water supplies. Sources said in the meeting, Maharashtra wanted funds for Mukhyamantri Majhi Ladki Bahin Yojana and demanded that a Centrally Sponsored Scheme (CSS) be launched with the Centre and state sharing 50 per cent of the cost each. The Budget for 2025-26 is slated to be presented in Parliament on February 1, 2025. Finance ministers of all states attended Friday's meeting with Sitharaman here. Several states demanded increase in allocations for the 50 years interest-free loan scheme, sources said, adding they also ...

Fiscal consolidation measures such as managing contingent liabilities, improving fiscal transparency, and enhancing the fiscal credibility of SDLs needed to address states' financial challenges

Union Minister of State for Information and Broadcasting, L Murugan on Saturday said absence of a state's name in the Union Budget does not mean that funds were not allocated to them. He claimed that states are always getting sufficient funds from the Centre. Absence of the name of a state in the Union Budget does not mean no funds were allocated to it. Uttar Pradesh was not mentioned, Rajasthan was not mentioned. Even Madhya Pradesh was not mentioned. It does not mean that sufficient funds were not allocated, he told reporters. Further, he said that Prime Minister Narendra Modi gave his commitment to the people of Andhra Pradesh during his visit to the state earlier that similar to Viksit Bharat (developed India) the government will also go ahead for Viksit Andhra Pradesh. Earlier, addressing a press conference, the Union Minister highlighted several allocations made to the southern state in the Union Budget 2024-25. Customs duty exemption on shrimp production, impetus to natural

MP deputy CM Jagdish Devda announced an allocation of Rs 26,560 crore for the Women and Child Development Department in the budget, which is a massive boost of 81 per cent compared to FY24

Being revenue surplus, which indicates that the state exceeds its current receipts for its current expenditure, Telangana has been generous with its social welfare schemes

The future of key economic reforms seems to depend more on the states

B V R Subrahmanyam underscored the fundamental role the organisation can play in guiding states towards fulfilling their developmental objectives in consonance with the central government's growth

'Apart from punitive and regulatory measures, we need to empower girl child to decide about when to marry,' the finance minister said

Finance Minister Nirmala Sitharaman will set a record by presenting the sixth Budget in a row -- 5 annual Budgets and one interim -- a feat achieved so far only by former Prime Minister Morarji Desai. With the presentation of interim Budget on February 1, Sitharaman will surpass the records of her predecessors like Manmohan Singh, Arun Jaitley, P Chidambaram, and Yashwant Sinha, who had presented five budgets in a row. Desai, as Finance Minister, had presented five annual Budgets and one interim Budget between 1959-1964. The interim Budget 2024-25 to be presented by Sitharaman on February 1, will be a vote-on-account that will give the government authority to spend certain sums of money till a new government comes to office after the April-May general elections. As the Parliamentary elections are due, Sitharaman's interim Budget may not contain any major policy changes. Speaking at an industry event last month, Sitharaman had ruled out any "spectacular announcement" in the interi

Finance Minister Nirmala Sitharaman on Thursday said the government is close to reaching saturation in implementing social sector schemes designed to provide basic necessities to the poor. Addressing the students of Hindu College on the occasion of its 125th anniversary, she said the time has come for India to become economically 'aatmanirbhar' (self-reliant) and march forward to become a developed nation by 2047. Regretting that 60 years since Independence passed without any sense of urgency, Sitharaman said, "we have laid the material foundation for a Viksit Bharat" and empowering people by providing basic necessities to all. Even earlier government had schemes of providing houses, roads etc but the sense of urgency was missing, she said, adding, nearly 50 per cent of the population were devoid of fundamental things 50 or 60 years post independence. "So that's the underlying principle with which between 2014 and today we have done with a sense of urgency. Push the border forward,

The total loan guarantees extended by 17 major states to their entities have more than tripled to Rs 9.4 lakh crore by FY23 from Rs 3 lakh crore in FY17, says a report. While guarantees are contingent liabilities, they may pose a risk to states' fiscal health if a substantial proportion of the stock needs to be serviced by them, warranting robust guarantee monitoring and prudent extension of guarantees in the future so that the financial system as a whole remains resilient. States often sanction and issue on behalf of their various enterprises, cooperative institutions, and urban local bodies guarantees in favour of their lenders which are generally banks or other financial institutions. The total loan guarantees extended by the 17 major states to their entities have more than tripled to Rs 9.4 lakh crore as of FY23 from Rs 3 lakh crore in FY17. This is equivalent to the entire increase in such guarantees of these states during FY2017-22, Icra Ratings chief economist Aditi Nayar sai

The government transferred the amount to states as tax devolution for financing various social welfare measures and infrastructure development schemes

DPIIT, which is responsible for overseeing Gati Shakti NMP, has also prepared a document - a crucial resource for clarity and data management practices - for relevant stakeholders

Punjab had over 40% debt as a proportion of GSDP in 2019-20 too, while Himachal Pradesh had 39.1%