Page 4 - States Budget

States' MGNREGA under probe for potential financial misappropriation

Some states have been using more than permitted MGNREGA funds to build rural infrastructure instead of generating livelihood opportunities for rural needy, says Central government

FM criticises states seeking more funds, says 'You, Me' culture won't work

Union Finance Minister Nirmala Sitharaman on Monday criticised states seeking greater funds from the Central government on the basis of the fact that they generated more revenue

States' borrowing cost eases for third week in a row, dips to 7.52%

States breathed easy in the debt market as the average cut-off on their market borrowings dipped sharply to 7.52 per cent, down 15 basis points from last week to the lowest level since mid-May. This is the third consecutive week of falling cut-off, as in the last two sessions the cost has come down by 10 basis points (bps). Last week the yield declined by 7 bps to 7.67 per cent. At the weekly auction of State Development Loans (SDLs) on Tuesday, six states raised Rs 5,900 crore, which is nearly 54 per cent lower than indicated in their borrowing calendar for the week, Icra Ratings said in a note. The weighted average cut-off eased sharply by 15 bps to 7.52 per cent at Tuesday's auctions. Similarly, there was also a decline in the weighted average tenor of the securities, the agency said. It attributed the steep fall in yields to a fall in the weighted average tenor which declined to 13 years from 15 years as also a fall in cut-off across tenors. The weighted average cut-off of the

Punjab: In AAP govt's 1st budget, health, agri, education are focus areas

Presenting the AAP government's first budget, Punjab Finance Minister Harpal Singh Cheema on Monday announced providing 300 units of free electricity to households from July 1

FM Sitharaman to present J&K budget for 2022-23 in Rajya Sabha

On March 14, the union territory's budget was presented and passed by the Lok Sabha

TN budget futuristic, aimed at propelling economic growth, says CII

Confederation of Indian Industry Tamil Nadu on Friday termed the budget presented by Finance Minister Palanivel Thiaga Rajan as futuristic, inclusive and growth-oriented propelling economic growth

No new tax in Himachal budget, age limit for old-age pension at 60 yrs

Presenting his fifth and the last budget of the current government, Thakur announced to decrease the age limit for availing such pension without any income limit from 70 years to 60 years

Budget is pro-people, has something for everyone, says Gujarat CM Patel

The budget's outlay of Rs 2,43,965 crore was the highest compared to previous budgets of the state, he said

Every section covered in Budget: Rajasthan chief minister Ashok Gehlot

He highlighted free treatment in IPD (inpatient department) and OPD (outpatient department) in government hospitals and old pension scheme for state employees as some of the several key announcements

States pays through the nose for debt as cost soars past 7.16% this fiscal

The cost of debt-funds for the states has touched the highest level so far this fiscal with the weighted average cut-off crossing the 7.16 percentage points at the latest auctions, up 11 bps

UP Assembly passes Rs 8,479 cr supplementary budget for FY22

The Opposition parties raised an objection regarding the supplementary budget, terming it as irrelevant

The state of states

India's fiscal challenge can get worse if states spend more even with lower revenue growth

Major states may finish Covid-19 vaccination by July 2022: Report

At the current pace, UP and Maharashtra would take 15 and 17 months respectively to cover their universal population

Tamil Nadu, India's 2nd-most industrialised state, in favour of debt recast

The states' inflated debt sale schedule alludes to that possibility. They are scheduled to borrow as much as Rs 1.78 trillion ($25 billion) from the market in the April-June quarter

Many states are seeing a steep fall in cost of their debt, finally

Large borrowing states not coming to the market or drawing down less than indicated amounts

Andhra Pradesh govt presents Rs 2.29 trillion budget for FY 2021-22

Andhra Pradesh government presented its annual budget for the financial year 2021-22 with an estimated expenditure of Rs 2.29 trillion and estimated revenue of Rs 1.77 trillion

Fiscal consolidation: States lack the flexibility that the Centre enjoys

While the Centre has an escape clause to deviate from the fiscal consolidation road map by 0.5 percentage point of GDP in times of exigency, states were not given any such escape clause

Delhi govt presents Rs 69,000-crore 'Deshbhakti Budget'; free Covid jabs

The Delhi government presented a Rs 69,000-crore budget themed on "patriotism" for financial year 2021-22

We aim for 'Singapore-level' per capita income by 2047, says Sisodia

Delhi Deputy Chief Minister Manish Sisodia on Tuesday presented a budget worth Rs 69,000 crore for the financial year 2021-22

Gujarat Budget: Rs 32,719 cr allocated to education, Rs 11,323 cr to health

Finance Minister Nitinbhai Patel allotted Rs 13,493 to urban development, Rs 5,494 crore for water resources