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Covid forces Maha into debt trap; fiscal deficit highest since FY06: Report

Maharashtra, which has the single largest share in national GDP with close to 16 per cent and the worst hit with the pandemic, has fallen into the worst debt trap with fiscal deficit hitting the highest since 2005-06 at 3.3 per cent, up over 175 per cent, according to a report.
In line with higher-than-budgeted deficit ratios, the state s debt-to-GSDP ratio has jumped to 20.2 per cent in 2020-21, up from 16 per cent in 2019-20, and the 2020-21 Budget Estimate of 16.2 per cent, India Ratings said in the report quoting revised budget estimates for FY21.
The most-industrialised state s fiscal deficit jumped to 3.3 per cent of gross state domestic product (GSDP) in 2020-21 as against the Budget Estimate of 1.7 per cent, which was 1.9 per cent in 2019-20, and this is the highest fiscal deficit since 2005-06. ....

Sunil Kumar Sinha , India Ratings , Budget Estimate , Ratings Principal Economist , Public Finance Director Sunil Kumar Sinha , Revised Estimate , Corona Virus , Debt Trap , Fiscal Deficit , சுனில் குமார் சீன்ஹா , இந்தியா ரேடிஂக்ஸ் , பட்ஜெட் மதிப்பீடு , ரேடிஂக்ஸ் ப்ரிந்ஸிபல் பொருளாதார நிபுணர் , பொது நிதி இயக்குனர் சுனில் குமார் சீன்ஹா , கொரோனா வைரஸ் , கடன் பொறி , நிதி பற்றாக்குறை ,

Pandemic leads to Maharashtra plunging into debt trap; fiscal deficit highest since FY06: Report

Pandemic leads to Maharashtra plunging into debt trap; fiscal deficit highest since FY06: Report
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Last Updated: Apr 01, 2021, 06:34 PM IST
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Synopsis
In line with higher-than-budgeted deficit ratios, the state s debt-to-GSDP ratio has jumped to 20.2 per cent in 2020-21, up from 16 per cent in 2019-20, and the 2020-21 Budget Estimate of 16.2 per cent, India Ratings said in the report quoting revised budget estimates for FY21.
Agencies
The fiscal slippage originated entirely from the revenue side. Revenue receipts were lower by Rs 57,960 crore of the shortfall in state s own tax revenue.
Maharashtra, which has the single largest share in national GDP with close to 16 per cent and the worst hit with the pandemic, has fallen into the worst debt trap with fiscal deficit hitting the highest since 2005-06 at 3.3 per cent, up over 175 per cent, according to a report. ....

Sunil Kumar Sinha , India Ratings , Budget Estimate , Ratings Principal Economist , Public Finance Director Sunil Kumar Sinha , Revised Estimate , Fiscal Deficit , சுனில் குமார் சீன்ஹா , இந்தியா ரேடிஂக்ஸ் , பட்ஜெட் மதிப்பீடு , ரேடிஂக்ஸ் ப்ரிந்ஸிபல் பொருளாதார நிபுணர் , பொது நிதி இயக்குனர் சுனில் குமார் சீன்ஹா , நிதி பற்றாக்குறை ,