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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...

Bond branding × Inclusion of G-Secs in global bond indices is key to expanding the demand for Indian bonds That FTSE Russell is considering including Indian government securities in the FTSE Emerging Government Bond Index provides a silver-lining to an otherwise bleak government bond market. The market is nervous about the deluge of government paper expected over the next 12 months. While the decision to place India on the watchlist for inclusion in the bond index does not mean that there will be an immediate flow of foreign funds into G-Secs, the eventual inclusion will certainly help crea...

System has enabled honest assessees to pay taxes without any problem, says Tarun Bajaj, Secretary, Economic Affairs and Revenue The GST collection of ₹1-lakh crore plus for six successive months cannot be a coincidence, Tarun Bajaj, Secretary, Economic Affairs and Revenue, has said. In an interview to BusinessLine, Bajaj said simplification and better compliance have led to better collection. He also expressed hope that gross direct tax collection shortfall is likely to be just 3 per cent at the end of FY21 and that the overall tax collection for FY22 would be better than what is mentione...

Pandemic leads to Maharashtra plunging into debt trap; fiscal deficit highest since FY06: Report SECTIONS Last Updated: Apr 01, 2021, 06:34 PM IST Share 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 rev...

The Ministry of Finance released Rs 45,000 crore as additional devolution to states in FY 2020-21.An official statement said that this is an increase of 8.2 per cent over Revised Estimate 2020-21. As per RE 2020-21, Rs 5,49,959 crore, being 41 ...