December 5, 2020

Market and Financial News Aggregator

12 major states may have to cut capex by Rs 2.7 lakh crore in FY21: ICRA

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​​The aggregate debt of these states is set to expand to 28.9% of gross state domestic product (GSDP) in the ongoing fiscal 2021 from 21.9% in FY19 and an estimated 22.3% in FY20, while revenue receipts are set to shrink by a significant 19.3% against the 14.3% growth budgeted for this fiscal year. Shortfalls in state goods and service tax collections, sales tax or value-added tax and central tax devolution have contributed to the contraction.

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