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States continued to pay higher coupon rates to bond investors with average price remaining 7.69 per cent at the latest auction on Tuesday. So far, the states have taken Rs 5.67 lakh crore of debt so far this fiscal, which is 33.5 per cent more than what they had raised in the same week last fiscal when it had stood at Rs 4.22 lakh crore.
The rating agency noted that overall borrowings of 18 states, which constitute 90% of the countrys gross state domestic product, is likely to increase by 9% to over Rs 87 lakh crore in FY24 compared with Rs 79.5 lakh crore in FY23.
States' debt will remain elevated at 31-32 per cent of their gross domestic product amid higher capital outlays and moderate revenue growth this fiscal, with overall borrowings likely to rise by 9 per cent to over ₹87 lakh crore, a report said.
During the pandemic, Uruguay racked up a staggering $1.996 billion in debt to women, highlighting gender economic disparities in work, unpaid work, and unfulfilled state benefits.
An economist Yusuf Wibisono disclosed a number of legacies of President Joko "Jokowi" Widodo that will burden the next president.