BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Based on the monthly accounts available for 15 states (together accounting for approximately 68% of all states), total receipts of states declined 17.9% YoY in Q2 FY21, while total spending contracted 12.1% YoY during the quarter.
Accordingly, states’ fiscal deficit increased to Rs 1.5 trillion in Q2 FY21 and Rs 3.6 trillion (or ~4.2% of gross domestic product ) in H1 FY21.
Details suggest the states’ total tax receipts (including the center’s devolution) fell 12.1% YoY, non-tax revenue receipts shrank 21.2% YoY, and grants from the center declined 31.3% YoY in the second quarter of FY21.
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