Page 3 - State Revenues

Statsguru: What is the asking rate in second half to meet economic targets

The economy is expected to see a sharp contraction, according to Reserve Bank of India's projection, and so will the tax revenues of the government

Statsguru: Rough terrain for states amid slowing economy hit by Covid-19

In FY20, provisional accounts indicate that states' revenue receipts were 12 per cent lower than the Budgeted amount

13 states submit borrowing option to Centre to fund GST shortfall

These 13 states include Bihar, Odisha, Andhra Pradesh, Gujarat, Uttarakhand and Meghalaya

GST compensation row: States' revenue fell 18% in first quarter, shows data

Details suggest the states' tax receipts (including the Centre's devolution) fell 32.1 per cent and non-tax revenues declined 27 per cent in this period

In absence of GST compensation, states may cut FY21 capex by Rs 3 trn: ICRA

The borrowing alternative offered by the Centre to make up for the shortfall in the promised compensation will lead to the states' fiscal deficits widening to 4.25 - 5.52 per cent

Covid-19 impact: States stare at Rs 6-trillion fiscal hole, says SBI report

Might have to cut capex by 40%, says report

Centre releases Rs 6,000 cr in revenue deficit grant to 14 states

The amount released would provide additional resources to states during the coronavirus crisis

GST compensation period: States likely to push for five-year extension

Set to seek higher borrowing limits as revenues dry up

States continue to tap cheap rates to borrow more than originally planned

Seven state governments had lined up to borrow Rs 9,000 crore, but ended up borrowing Rs 12,000 crore from the markets because of the cheap rates.

Goa likely to see steepest contraction in economy in 2020-21, shows data

India Ratings and Research expects the gross state domestic product (GSDP) of all states in India to contract in FY21

States fear losing revenue once agriculture market reforms kick in

The first of a two-part series looks at why states such as Punjab, which depend on taxes levied on mandi transactions, are disgruntled

Covid-19 impact: State govts likely to raise more money using bonds

According to the Reserve Bank of India (RBI) data, state governments' gross market borrowings stood at Rs 6.08 trillion in 2019-20, up from Rs 4.78 trillion in 2018-19.

Uttarakhand hikes prices of fuel, alcohol to boost revenue amid lockdown

The price of Indian-made foreign liquor (IMFL) has been increased to Rs 20-Rs 200 per bottle, imported liquor by Rs 475 per litre and country-made liquor

Covid-19: As state govts defer or cut pay, employees prepare for battle

Some states ruled by the BJP have been cautious about giving state government employees any cause to complain

UP, Karnataka, TN hike duty on liquor as buffer for Covid-19 loss

UP govt also raises tax on petrol and diesel

Covid-19 may prompt states to hold on to revenue sources outside GST

Given the states limited capacity to mobilise revenues, it will be difficult to bring oil, fuel and tobacco under the purview of GST in the near future

Covid-19 crisis: States tap liquor, fuel to fill coffers as revenues fall

The Delhi government has already imposed a Covid cess of 70 per cent on liquor and hiked petrol and diesel prices as the state got just Rs 300 crore in April

Centre should use fiscal powers to ease state constraints: Yamini Aiyar

She says India needs to avoid another nationwide lockdown

Centre's fund crunch pulls down cities; rich Mumbai struggles too

State government accounts deserve scrutiny because they collectively spend 36 per cent more than the federal administration

Delhi govt maintained revenue surplus over last five years: CAG report

The audit report by CAG for the year ended March 2018, noted that tax revenue and non-tax revenue also registered an increase of 14.7% and 101% respectively over the previous year