State Finances News - Latest Updates & Headlines
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.
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.
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.
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.
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.
'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.
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.
Gujarat achieves lowest debt-to-GSDP ratio of 4.5 percent among 21 largest states in last 10 years: NCAER Economists
Gandhinagar, February 16: The National Council of Applied Economic Research (NCAER) has released a report highlighting Gujarat's exemplary fiscal management, positioning it as one of the financially strongest states in India. As per report, Gujarat has reduced its public debt-to-GSDP ratio in last 10 years by 4.5 percent, the highest among India's 21 major states.
Bengal Budget: State's grant-in-aid component projected to rise 31 per cent by March 2026
Kolkata, Feb 12: The West Bengal government's dependence on grants-in-aid from the Union government is all slated to continue during the financial year 2025-26, with the figure slated to rise by 30.69 per cent by March 31, 2026.
Freebies: Short-term political gain may become long-term economic distress, says Report
New Delhi, February 10: Once just campaign promises, political freebies have now become a crucial strategy for winning elections in India.
Despite high tax transfers in Union budget, states face fiscal challenges: Report
New Delhi, February 2: Despite good tax transfer from the Centre to the states, the financial health of the states is struggling highlights a report by State bank of India.
Union Budget 'inequitable' as it focuses on Bihar: Himachal CM
Shimla, Feb 1: Himachal Pradesh Chief Minister Sukhvinder Sukhu on Saturday expressed disappointment over the Union Budget 2025-26, labelling it "inequitable" as the major part of it is focusing on Bihar.
Tsunami of the women centric DBT schemes can bleed state finances: SBI Report
New Delhi, January 25: The Tsunami of the women centric Direct Benefit Transfer schemes announced by various states can bleed the state finances, says a report by State Bank of India.