States fiscal deficit seen spiking to historic high of 4.7%: CRISIL study

States fiscal deficit seen spiking to historic high of 4.7%: CRISIL study

The Hindu

The combined fiscal deficit of the States will hit a peak of ₹8.7 lakh crore or 4.7% of their GDP this fiscal on the back of steep fall in tax collections due to disruptions inflicted by the pandemic, according to a report. Revenue of the States have so badly fallen that as much as 70% of the fiscal deficit is contributed by revenue deficit, which normally used to be only around 15%, a CRISIL study said on Wednesday.
Read full story on The Hindu
Share this story on:-
More Related News
Government to release new series of retail inflation, GDP data from February, IIP from May next year

The Indian government will release new macroeconomic data series, including GDP and inflation, starting February 2026.

Granules’ generic for ADHD secures U.S. FDA tentative nod

Granules India secures U.S. FDA tentative approval for its ADHD generic, enhancing access to critical therapy and expanding its generics portfolio.

Italy regulator fines Apple $115 million for alleged App Store privacy violations

Italy’s competition authority (AGCM) ‍said on Monday it had fined ​U.S technology giant Apple and two of ‌its divisions 98.6 million ​euros ($115.53 million) over alleged abuse of their dominant position in the mobile app market.

No duty concessions by India on dairy sector for New Zealand under trade pact

India denies duty concessions on dairy imports from New Zealand in recent trade pact negotiations, prioritizing local farmers' protection.

Zero-duty market access to Indian exports, pledge to invest $20 billion, and more: Highlights of India-New Zealand free trade agreement

India-New Zealand free trade agreement offers zero-duty access, $20 billion investment pledge, and enhanced trade in multiple sectors.

India, New Zealand announce conclusion of FTA negotiations

India and New Zealand finalise a trade deal, enhancing exports and fostering economic growth between the two nations.

Stock markets surge in early trade on foreign fund inflows, firm global trends

Stock markets rise as foreign fund inflows boost investor confidence, with major gains from Infosys, Tata Steel, and Tech Mahindra.

Netflix and Paramount are fighting over Warner Bros. Discovery

Warner Bros. Discovery is in the middle of a Hollywood tug-of-war between Netflix and Paramount.

When ‘misvestment’ has more facets than is known Premium

Explore the pitfalls of misvestment and discover how to make informed investment decisions for long-term wealth growth.

M-cap of 6 of top-10 most valued firms climbs ₹75,257 crore; TCS, Infosys biggest winners

Market valuations of top firms rose by ₹75,257 crore, with TCS and Infosys leading the gains last week.

IIFL Finance appoints ex-RBI Deputy Governor B. P. Kanungo as chairman

IIFL Finance appoints ex-RBI Deputy Governor B. P. Kanungo as chairman, enhancing governance and strategic direction for stakeholders.

SEBI group to review non-agricultural derivatives

SEBI plans to form a working group to enhance liquidity and review non-agricultural commodity derivatives, boosting market attractiveness.

Agnikul’s $17 million fundraise signals ‘maturing investor confidence in India’s space sector’

Space sector opened up to private participation in June 2020