State Finance News - Latest Updates, Headlines & Analysis

State's financial status is empowered: Karnataka Home Minister G Parameshwara

Mandya, April 10: Karnataka Home Minister G Parameshwara claimed that the state's financial status is empowered, and it ranks second across the country in terms of investment and Goods and Services Tax collections.

West Bengal achieves 11.43% GST collection growth in 2024-25, outperforming national-level: CM Mamata Banerjee

Kolkata, April 6: West Bengal Chief Minister Mamata Banerjee announced on Sunday that the state achieved a growth of 11.43 per cent in GST collection for the financial year 2024-25, two per cent higher than the national level.

Bengal witnessed 11.43 pc GST growth: Mamata Banerjee

Kolkata, April 6: West Bengal has witnessed an 11.43 per cent growth in Goods & Services Tax (GST) collection during the financial year 2024-25 over the corresponding figure achieved during the previous financial year of 2023-24, the Chief Minister Mamata Banerjee claimed on Sunday.

GST Council seeks revenue growth without public burden: Finance Minister

New Delhi, April 1: Finance Minister Nirmala Sitharaman emphasized on Tuesday that financial matters of the country and states should remain above politics.

'NITI NCAER States Economic Forum' portal to boost research on public finances launched

New Delhi, April 1: Union Finance Minister Nirmala Sitharaman on Tuesday launched the “NITI NCAER States Economic Forum” portal, that will help states make more meaningful interventions, raising revenues, managing debts and learning from peer experiences.

Punjab sees record-breaking excise revenue of Rs 10,743.72 crore: Minister

Chandigarh, April 1: Punjab Finance Minister Harpal Singh Cheema said on Tuesday that the state's Excise and Taxation Department has reported a record-breaking excise revenue of Rs 10,743.72 crore for 2024-25, marking an impressive annual growth rate of 16.36 per cent compared to the previous fiscal.

FM Sitharaman to launch a portal having repository of social, economic, research data on Tuesday

New Delhi, March 31: NITI Aayog, in collaboration with the National Council of Applied Economic Research (NCAER), has developed a portal which is a comprehensive repository of data on social, economic and fiscal parameters, research reports, papers, and expert commentary on State Finances for a period of about 30 years (1990-91 to 2022-23).

FM Sitharaman to launch States Economic Forum portal

New Delhi, March 31: Finance Minister Nirmala Sitharaman will launch the 'NITI NCAER States Economic Forum' portal on Tuesday.

Centre's transfer of tax share to states shoots past Rs 11.8 lakh crore in April-Feb

New Delhi, March 28: The Centre has transferred Rs 11,80,532 crore transferred to the state governments as devolution of share of taxes by the government of India in the 11 months of the current financial year up to February 2025, which is Rs 1,47,099 crore higher than the previous fiscal year (2023-24), according to figures released by the Finance Ministry on Friday.

Gujarat, Maharashtra, Karnataka and Odisha are top performing states financially: CareEdge Ratings

New Delhi, March 27: Gujarat, Karnataka, Maharashtra, and Odisha have emerged as the top-performing states in terms of financial strength.

Himachal CM meets Amit Shah, seeks release of compensation for losses due to floods in 2023

New Delhi, March 22: Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu called on Union Home Minister Amit Shah here on Saturday.

Govt to set up committee to increase revenue through Maharashtra State Lottery: Ajit Pawar

Mumbai, March 20: Maharashtra's Deputy Chief Minister and Finance Minister Ajit Pawar on Thursday announced that a committee of elected representatives headed by former Finance Minister Sudhir Mungantiwar will be formed before the conclusion of the ongoing budget session on March 26 to suggest measures to increase revenue through the state lottery.

Maha economy in good shape, don't paint bleak picture that may impact investments: Ajit Pawar

Mumbai, March 17: Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar on Monday urged the opposition members not to paint a bleak picture of the state’s economy, warning it could deter potential investments.

CM Sukhu presents populist but deficit Himachal budget of Rs 58,514 crore

Shimla, March 17: With a focus on strengthening the agrarian economy, healthcare, job creation and eco-tourism, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Monday presented a populist but deficit budget of Rs 58,514 crore for the next fiscal in the Legislative Assembly.

Tamil Nadu budget is people-friendly and focuses on people in rural areas, youth and women. Says DMK MP Tiruchi Seva

Tiruchirappalli, March 14: DMK MP Tiruchi Seva on Friday said that the Tamil Nadu budget introduced was people friendly and focused on the people living in rural areas, youth, and the women.

Central taxes as a proportion of total revenue receipts have reduced significantly: Tamil Nadu Finance Minister

Chennai, March 14: Tamil Nadu Finance Minister Thangam Thennarasu on Friday stated that the central transfers from the Union Government in the form of Grants-in-aid and share in central taxes as a proportion of total revenue receipts have reduced significantly.

Tamil Nadu budget 2025-26 to be presented on March 14

Chennai, March 13: Tamil Nadu Finance Minister, Thangam Thennarasu, will present the state Budget for 2025-26 in the Legislative Assembly on Friday, March 14.

Historic: MP Ministers praises state budget for finacial year 2024-25

Bhopal, March 12: As Madhya Pradesh's Rs 4,21,032 crore budget was presented for the financial year 2025-26 in the assembly today, State Minister Tulsi Ram Silawat termed it a 'historic' budget for the development and growth of the state.

Budget around Rs 4.20 lakh cr for fiscal year 2025-26: MP CM Mohan Yadav ahead of budget presentation in assembly

Bhopal, March 12: Ahead of presentation of the Madhya Pradesh budget for financial year 2025-26, Chief Minister Mohan Yadav said in the exercise of doubling the state budget in the next five year, the budget of around Rs 4.20 lakh crores would be present in the state assembly on Wednesday.

Madhya Pradesh Dy CM & Finance Minister Jagdish Devda offers prayers at his residence ahead presenting state budget today

Bhopal, March 12: Deputy Chief Minister of Madhya Pradesh and Finance Minister Jagdish Devda will present the state budget for financial year 2025-26 in the state assembly on Wednesday.

Maha debt stock likely to increase to record Rs 9,32,242 crore in 2025-26

Mumbai, March 10: Maharashtra's public debt stock is expected to increase to Rs 8,39,275 crore which is 18.52 per cent of the gross state domestic product (GSDP) as per the revised estimate for 2024-25. The debt stock would further increase to a record Rs 9,32,242 crore as per the budget estimate for 2025-26 and it would be 18.87 per cent of the GSDP which is below 25 per cent of the limit proposed by the Fiscal Responsibility and Budget Management Act.

Maharashtra: Opposition terms Budget 'a hollow one that betrays common man'

Mumbai, March 10: The opposition parties in Maharashtra have claimed that the annual budget presented by the deputy chief minister Ajit Pawar is hollow as it has betrayed the common man including farmers and women devoid of any direction, goal of policy.

Maha: Capital expenditure estimated to be Rs 93,165.52 cr in 2025-26

Mumbai, March 10: The Maharashtra government's capital expenditure on development works especially for asset creation is estimated to reduce to 11 per cent of gross state domestic product (GSDP) at Rs 93,165.52 crore in 2025-26 against 13 per cent at Rs 1,09,031.48 crore as per the revised estimate for 2024-25.

BRS' Kavitha slams CM Revanth Reddy for tarnishing Telangana's image with lies and fake stats

Hyderabad, March 10: Bharat Rashtra Samithi (BRS) leader Kalvakuntla Kavitha on Monday launched a sharp attack on the Telangana Chief Minister Revanth Reddy-led Congress government, accusing it of plunging Telangana into financial distress with reckless borrowing and zero delivery on electoral promises.

Maha Budget: Rs 36,000 cr for Ladki Bahin Yojana; various taxes proposed to generate additional revenue

Mumbai, March 10: Amid the widening gap between revenue and expenditure with constraints on resource mobilisation, Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar on Monday presented the budget for 2025-26 with an estimated revenue deficit of Rs 45,892 crore and fiscal deficit of Rs 1,36,000 crore.

Assam: Finance Minister Ajanta Neog to present state budget for financial year 2025-26 today

Guwahati, March 10: Assam Finance Minister Ajanta Neog will present the state budget for the financial year 2025-26 in the state assembly today.

Budget is for people: Maharashtra Deputy CM Eknath Shinde ahead of state budget

Mumbai, March 10: Maharashtra Deputy Chief Minister Eknath Shinde said that the state budget presented focusses is for the people, and the ruling Mahayuti government is committed towards people.

Maharashtra Deputy CM Ajit Pawar to present state budget on March 10

Mumbai, March 9: Maharashtra's Deputy Chief Minister and Finance Minister Ajit Pawar will present the State Budget for 2025-26 on Monday, March 10, 2025. Notably, this will be the first budget for the newly-formed Mahayuti government and Pawar's 11th Budget as Finance Minister, a press release from Nationalist Congress Party (NCP) said.

K'taka: Outlay crosses Rs 4 lakh crore; Siddaramaiah presents Rs 19,262cr deficit budget

Bengaluru, March 7: Karnataka Chief Minister Siddaramaiah, who also holds finance portfolio, presented his record 16th budget on Friday, with the size of the outlay touching Rs 4.08 lakh crore, up from Rs 3.71 lakh crore in the Financial Year 2024-25.

MP govt submits demands for revenue share during 16th Finance Commission

Bhopal, March 6: Chief Minister Mohan Yadav-led Madhya Pradesh government in a meeting with the 16th Finance Commission in Bhopal on Thursday submitted its financial need to ensure economic growth of the state in the next five years.

MP pitches for non-tax revenue inclusion in tax pool, suggests multi-dimensional poverty as new criteria

Bhopal, March 6: Aravind Panagariya, the Chairman of the 16th Finance Commission, on Thursday, highlighted the fervent appeals from Madhya Pradesh, which is seeking an increased allocation from the central divisible pool, aiming to raise its share from the current 41 per cent to a more substantial 48 per cent.

Mizoram government presents Rs15,198-crore budget

Aizawl, March 4: Mizoram Chief Minister Lalduhoma on Tuesday presented a Rs 15, 198.76 crore state budget for 2025-26 in the state assembly.

MP budget may cross Rs 4 lakh crore, to be tabled on March 12

Bhopal, March 1: The Madhya Pradesh government is poised to unveil a significantly sizeable fiscal year 2025-26 budget, anticipated to surpass Rs 4 lakh crore. Noteworthy provisions are expected to address underprivileged sectors and the grand celebration of Ujjain Simhastha Mahakumbh, which will take place in 2028.

'Misleading' budget will plunge state into debt: Rajasthan LoP

Jaipur, Feb 27: Rajasthan Leader of the Opposition Tika Ram Jully on Thursday strongly criticised the recently presented state budget, calling it dull, misleading, a mirage of figures, and a financial burden that will push the state deeper into debt.

Maha govt announces 3 per cent increase in DA for 14 lakh employees

Mumbai, Feb 26: The Maharashtra government on Tuesday announced three per cent increase in dearness allowance (DA) of about 14 lakh employees.

Finance Commission to start consultations on revenue-sharing model in Mizoram

Aizawl, Feb 23: The16th Finance Commission, led by its Chairman Arvind Panagariya will start formal consultations with the Mizoram government, industrial organisations, rural and urban local bodies, autonomous institutions from Monday to evolve a revenue-sharing model between the central and state governments and various other aspects, officials said here on Sunday.

Odisha: Naveen Patnaik slams annual state budget for 2025-26 FY as 'anti-growth'

Bhubaneswar, Feb 22: Leader of Opposition, Naveen Patnaik, on Friday hit out at the state government, calling the annual state budget for the 2025-26 financial year recently tabled in the state assembly by Chief Minister Mohan Charan Majhi as anti-growth.

Uttarakhand govt presents budget in state assembly

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