Indian states need more financial support from Modi government, says an S&P report
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Last Updated: Jun 26, 2021, 01:01 PM IST
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Synopsis
The Covid-19 pandemic could increase budget deficits and indebtedness of state governments as spending needs to exceed revenue collected, S&P Global analysts YeeFarn Phua and Ruchika Malhotra said in a report.
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Indian states’ weaknesses outweigh their strengths as they battle the pandemic and they need financial support from the Centre, which is already dealing with drastically reduced revenue, according to S&P Global Ratings.
The Covid-19 pandemic could increase budget deficits and indebtedness of state governments as spending needs to exceed revenue collected, S&P Global analysts YeeFarn Phua and Ruchika Malhotra said in a report. The federal government and the Reserve Bank of India will remain key pillars for states’ fiscal framework and performance, they said.
महामारी का असर अर्थव्यवस्था के साथ अब लोगों की जेब पर भी पड़ रहा है। वैश्विक रेटिंग एजेंसी एसएंडपी ने बृहस्पतिवार को एक रिपोर्ट में कहा कि कोविड-19 संक्रमण ने कमाई को बुरी तरह प्रभावित किया है।
S&P Global Ratings expects NagaCorp Ltd's (Naga; B+/Stable/ ) liquidity will be bolstered by the proposed retap of the US-dollar-denominated senior unsecured notes due 2024.