Maharashtra Deputy Chief Minister Ajit Pawar. File | Photo Credit: PTI Maharashtra’s gross state domestic product (GSDP) was expected to grow by 10% in FY 2024-25 and the government was committed to ensure that revenue deficit doesn’t cross the prescribed limit, Finance Minister Ajit Pawar told the Legislative Assembly on Friday. The GSDP, which was … Read more
Odisha’s economy is estimated to grow by 7.8 per cent in real terms against the national rate of 7 per cent during the current financial year 2022-23, the state’s economic survey report said. The state is also poised to register a growth in the range of 8 to 8.5 per cent in 2023-24 in real … Read more
SBI Economists on Monday dismissed the ‘K-shaped recovery‘ critique, saying the pandemic was a ‘leveler’ which helped in reducing inequalities. The economists at India’s largest lender also said government transfers to the poor alone are adding up to Rs 75,000 per household per annum. In the months following the outbreak of the COVID-19 pandemic, concerns … Read more
The aggregate indebtedness of states – measured by debt to gross state domestic product (GSDP) – is expected to remain at 30-31% of their respective GDP this fiscal, almost at the same levels of FY’22 due to flattish growth in fuel tax and discontinuation of GST compensation according to ratings firm Crisil Besides, sticky revenue … Read more
The Centre granted an additional borrowing limit of Rs 4,898 crore to Andhra Pradesh (AP) and Madhya Pradesh (MP) for the implementation of urban local body (ULB) reforms, on Wednesday. While AP received permission to mobilise Rs 2,525 crore through market borrowings, MP can raise an additional Rs 2,373 crore, according to a finance ministry … Read more
The Centre formally proposed two options for borrowings to meet the shortfall in goods and service tax (GST) compensation for FY 2020-21 to states, giving them seven working days to revert with their choice. State finance secretaries will meet Union finance secretary and expenditure secretary on September 1, 2020 for clarifying issues. States can individually … Read more