According to ‘Handbook of Statistics on States 2016-17‘, the gross fiscal deficits of all the states have soared to Rs 4,93,360 crore in fiscal 2016 from Rs 18,790 crore in FY1991.
This is the second edition of RBI’s statistical publication.
‘Handbook of Statistics on States 2016-17 follows a ‘one-indicator-one table’ approach. It covers all sub-national statistics on socio- demographics, state domestic product, agriculture, industry, infrastructure, banking and other fiscal indicators across the states during the period 1950-51 to 2016-17.
The handbook also provides data on the state-wise availability of power, per capita availability of power, installed capacity of power, and power requirement, the length of national highways, roads and state highways, and railheads.
Uttar Pradesh had a fiscal deficit of INR 3,070 crore in FY91, which has soared to INR 64,320 crore in FY16.
It is projected to improve to INR 49,960 crore in FY17.
Rajasthan had a fiscal deficit of INR 540 crore in FY91, which has soared to INR 67,350 crore in FY16.
Maharashtra has a fiscal deficit of INR 37,950 crore in FY16 which is projected to soar to INR 35,030 crore in FY17.
Gujarat which has seen rapid industrialisation in the period of data analysis has got its fiscal deficit increased from INR 1,800 crore in FY91 to 22,170 crore in FY16 and the deficit is projected to further deteriorate in FY17 to INR 24,610 crore.
Andhra Pradesh has a deficit of INR 17,000 crore in FY16 which is set to increase to INR 20,500 crore in FY17.
Tamil Nadu is also projected to have a higher deficit at INR 40,530 crore in FY17. Karnataka is also estimated to post higher deficit in FY17 at INR 25,660 crore.
Bihar which has a fiscal deficit of INR 28,510 crore in FY16 is slated to improve its finances with the fiscal deficit of INR 16,010 crore in FY17.
Similarly, West Bengal is also slated to improve its fiscal deficit to INR 19,360 crore in FY17 .
However, the gross fiscal deficit is projected to decline to INR 40,530 crore in FY17.
