Page 6 - State Budgets News Today

Welfare spending was a big campaign point in the latest state elections. State budgets for 2023-24 indicate that will be the case in the run-up to the 2024 national election as well

India News: RBI’s latest report on state budgets shows BJP-governed states increased subsidies just as much as other states. What does BJP actually think about su

RBI’s latest report on state budgets shows BJP-governed states increased subsidies just as much as other states. What does BJP actually think about su

Several governors have recently unveiled their state budget proposals for next year. Most include modest to substantial increases in appropriations for higher education.

Coalition funds have been part of the budget-making progress for years. This study examines the trends in the use of these funds under the last three governments. One can see that the volume of coalition funds has grown up to fourfold within two Governments and that their breakdown has been less professional and more directed to interest groups.

While there is no estimate – or even definition – of freebies, Chhattisgarh, Tamil Nadu, Punjab, Madhya Pradesh, and Bihar spend the most on subsidies as a percentage of their State Domestic Product. Meanwhile, Delhi is ahead on spending on public health and education.

“Internal estimates suggest that if all the State governments revert to OPS from the National Pension System (NPS), the cumulative fiscal burden could be as high as 4.5 times that of NPS, with the additional burden reaching 0.9 per cent of GDP annually by 2060” said the report titled “ State Finances: A Study of Budgets of 2023-24” released on Monday.

It is possible to get government spending on a more sustainable trajectory, as a number of states have demonstrated over the past decade.

A recent report from the Georgia Department of Audits and Accounts examines the monetary costs and benefits of the state's Qualified Education Expense Tax Credit (QEEC), a voucher policy that provides a public subsidy for families to pay for private school tuition. A review of the report, however, contradicts its claim that the policy provides a net fiscal benefit to the state budget.

Budget agreement released this week would give NC the nations ninth universal school choice program, put state on the path to having the lowest flat tax in the U.S.