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    State budgets: Revised numbers are worse than budgeted numbers for states, says India Ratings' Sunil Sinha

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    State budgets: Revised numbers are worse than budgeted numbers for states, says India Ratings' Sunil Sinha

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    India's large states Maharashtra, Tamil Nadu, Karnataka and Uttar Pradesh (UP) have reported revenue deficit budgets, presenting a clear sign that the COVID-19 pandemic and the subsequent lockdown have taken a toll on the coffers. Sunil Kumar Sinha of India Ratings and Research discussed the trend as far as revenue deficits is concerned.

    India's large states Maharashtra, Tamil Nadu, Karnataka and Uttar Pradesh (UP) have reported revenue deficit budgets, presenting a clear sign that the COVID-19 pandemic and the subsequent lockdown have taken a toll on the coffers. Sunil Kumar Sinha of India Ratings and Research discussed the trend as far as revenue deficits is concerned.
    “When we look at the revised numbers for fiscal year 2021, for most of the states - irrespective of size or location – the revenue deficits are turning out to be much higher than the budgeted number,” he said.
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