Maharashtra tops fiscal heath report; Chhattisgarh, Telangana follow suit

Maharashtra tops fiscal heath report; Chhattisgarh, Telangana follow suit

Daily Current Affairs   /   Maharashtra tops fiscal heath report; Chhattisgarh, Telangana follow suit

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Category : State Published on: August 17 2023

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  • Recently Maharashtra has taken the lead in the Fiscal Health Report by demonstrating impressive financial stability. 
  • Interestingly, Chhattisgarh, a state that is typically linked with economic difficulties, has surprisingly claimed the second spot in the rankings.
  • The Fiscal Health Report’s assessment is based on four crucial fiscal parameters: Fiscal Deficit, Own Tax Revenue, State Debt Levels, and Interest Payment to Revenue Receipts.
  • Despite its reputation as one of the economically challenged states in the nation, Chhattisgarh’s second-place ranking in the Fiscal Health Report is raising eyebrows.
  • The Fiscal Health Report highlights the challenging fiscal situations of Bengal, Punjab, Bihar, Rajasthan, and Kerala.
  • These states demonstrate vulnerability to debt sustainability risks due to weak fiscal and debt metrics, a concern predating the pandemic.
  • The Reserve Bank of India (RBI) had issued a warning to states about these risks in a June 2022 report.
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