For the financial year 2022, according to the budget estimate, the fiscal deficit for states as a percent of GDP was 3.7 percent. However, to overcome the crises caused by the COVID-19 pandemic, an economic package to the tune of 23 billion U.S. dollars was sanctioned. This led to a rise of 80 basis points. Thereby speculations rose related to an increase in the fiscal deficit, similar to what occurred during the 2008 financial crises.
State fiscal deficit as a percent of GDP of India from financial year 2005 to 2020, with estimates until 2022
*Revised estimate.
**Budget estimate.
India's financial year begins in April and ends in March. For example, FY 2016 started in April 2015 and ended in March 2016.
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Reserve Bank of India. (December 3, 2021). State fiscal deficit as a percent of GDP of India from financial year 2005 to 2020, with estimates until 2022 [Graph]. In Statista. Retrieved December 30, 2024, from https://www.statista.com/statistics/1110218/india-state-fiscal-deficit-as-a-percent-of-gdp/
Reserve Bank of India. "State fiscal deficit as a percent of GDP of India from financial year 2005 to 2020, with estimates until 2022." Chart. December 3, 2021. Statista. Accessed December 30, 2024. https://www.statista.com/statistics/1110218/india-state-fiscal-deficit-as-a-percent-of-gdp/
Reserve Bank of India. (2021). State fiscal deficit as a percent of GDP of India from financial year 2005 to 2020, with estimates until 2022. Statista. Statista Inc.. Accessed: December 30, 2024. https://www.statista.com/statistics/1110218/india-state-fiscal-deficit-as-a-percent-of-gdp/
Reserve Bank of India. "State Fiscal Deficit as a Percent of Gdp of India from Financial Year 2005 to 2020, with Estimates until 2022." Statista, Statista Inc., 3 Dec 2021, https://www.statista.com/statistics/1110218/india-state-fiscal-deficit-as-a-percent-of-gdp/
Reserve Bank of India, State fiscal deficit as a percent of GDP of India from financial year 2005 to 2020, with estimates until 2022 Statista, https://www.statista.com/statistics/1110218/india-state-fiscal-deficit-as-a-percent-of-gdp/ (last visited December 30, 2024)
State fiscal deficit as a percent of GDP of India from financial year 2005 to 2020, with estimates until 2022 [Graph], Reserve Bank of India, December 3, 2021. [Online]. Available: https://www.statista.com/statistics/1110218/india-state-fiscal-deficit-as-a-percent-of-gdp/
