| Foreword |
| List of Abbreviations |
| Chapter I: Overview |
| Chapter II: Fiscal Position of State Governments |
| 1. Introduction |
| 2. Key Fiscal Indicators |
| 3. 2018-19: Accounts |
| 4. 2019-20: Revised Estimates and Provisional Accounts |
| 5. 2020-21: Budget Estimates and Actuals so far |
| 6. Market Borrowings and Projected GFD |
| 7. Outstanding Liabilities/ Contingent Liabilities |
| 8. Conclusion |
| Chapter III: COVID-19 Pandemic and its Spatial Dimensions in India |
| 1. Introduction |
| 2. COVID-19 in the States |
| 3. Demographics and Epidemiology |
| 4. Healthcare and Fiscal Implications for States |
| 5. Reverse Migration, Employment and MSMEs |
| 5.1 Micro, Small and Medium Enterprises (MSMEs) |
| 6. Digitalisation and Banking |
| 6.1 Digital Preparedness of States |
| 6.2 Digital Retail Transactions |
| 6.3 Banking Penetration |
| 7. COVID-19 and the Role of Third Tier Government |
| 7.1 Cross-country Comparison |
| 7.2 India’s Third Tier |
| 8. COVID-19 and States’ Output for 2020-21 |
| 8.1 Non-Farm Activities |
| 8.2 Exports and Remittances |
| 9. Concluding Observations |
| Annex III.1 Demographic and Epidemiological Transition: A Review of Theory |
| Annex III.2 Unemployment Convergence across States |
| Annex III.3 Labour Laws |
| Annex III.4 E-Governance Initiatives of States during COVID-19 |
| Chapter IV: Way Forward |
| References |
| Explanatory Note on Data Sources and Methodology |
| LIST OF BOXES |
| II.1 Is there a Systematic Bias in Revised Estimates? |
| II.2 Determinants of States’ Discretionary Spending |
| II.3 Automatic Stabilisers in States’ Own Tax Revenue and Transfers |
| II.4 Assessing Fiscal Risks – Odisha’s Experience |
| III.1 Dharavi, Mumbai – A Successful Case of Public-Private Partnership |
| III.2 Impact of COVID-19 on the Micro, Small and Medium Enterprises in Tamil Nadu |
| III.3 COVID-19 - The Kerala Model of Containment – The Role of Local Self-Government |
| LIST OF TABLES |
| II.1 Major Deficit Indicators - All States and Union Territories with Legislature |
| II.2 Aggregate Receipts of State Governments and UTs |
| II.3 Revenue Expenditure Pattern of State Governments and UTs |
| II.4 Expenditure Pattern of State Governments and UTs |
| II.5 Fiscal Impact of States’ Farm Loan Waiver Programmes |
| II.6 Deficit Indicators of State Governments - State-wise |
| II.7 Tax Buoyancy of States’ Own Tax Revenue |
| II.8 GST Compensation Cess |
| II.9 Variation in Major Components |
| II.10 Composition of Expenditure on Social Services (Revenue and Capital Accounts) |
| II.11 State-wise Policy Measures to Contain the Adverse Impacts of Pandemic |
| II.12 Expenditure Rationalisation by States During COVID-19 |
| II.13 Financing Pattern of Gross Fiscal Deficit |
| II.14 Market Borrowings of State Governments |
| II.15 Maturity Profile of Outstanding State Government Securities |
| II.16 Investments of Surplus Cash Balances of State Governments |
| II.17 Investment in CSF/GRF by States |
| II.18 Outstanding Liabilities of State Governments and UTs |
| II.19 Composition of Outstanding Liabilities of State Governments and UTs |
| II.20 Guarantees issued by State Governments |
| III.1 Notable Epidemics in India |
| III.2 Demographic Transition across States |
| III.3 Age and Co-morbidity Condition |
| III.4 Foodgrain Stock, Rabi and Kharif Production of Foodgrains |
| III.5 Trends in Economic Activity Index – Select States |
| III.6 Emigration Clearances for Overseas Employment- Share and Trend |
| LIST OF CHARTS |
| II.1 Major Deficit Indicators |
| II.2 State-wise GFD in 2020-21 BE |
| II.3 Primary Deficit - 2019-20 RE versus 2007-08 |
| II.4 Change in Fiscal Position - 2017-18 to 2018-19 |
| II.5 Revenue Expenditure Components – 2018-19 vis-à-vis 2017-18 |
| II.6 Revenue Expenditure in 2019-20 – RE vis-à-vis BE |
| II.7 Committed Expenditure |
| II.8 Capex Cut in 2019-20: Statewise Pattern |
| II.9 States’ Revenue Receipts (April-June) |
| II.10 Petrol and Diesel Revenue: Trends |
| II.11 Revenue Receipts: Component Share |
| II.12 Social Sector Expenditure |
| II.13 Revenue Expenditure (April-June) |
| II.14 Capex Trends |
| II.15 Market Borrowings of Centre and States – Gross and Net |
| II.16 GFD-GSDP Ratio and Market Borrowing Gap (Actual to BE): 2019-20 |
| II.17 GFD-GDP Ratio: Projection |
| II.18 Market Borrowings of States: April-September |
| II.19 SDLs – Maturity and Yield Spread |
| II.20 Debt and Interest Burden |
| II.21 Power Distribution Utilities – Financial Performance |
| III.1 Pandemics in India - Impact on GDP |
| III.2 State-wise Cumulative COVID-19 Cases |
| III.3 State-wise New COVID-19 Cases (Seven day moving average) |
| III.4 Case Fatality Rate from COVID-19 |
| III.5 State-wise COVID-19 Spread and Mortality |
| III.6 India’s Demographic Transition |
| III.7 India’s Epidemiological Transition – Stylised Evidence |
| III.8 Epidemiological Transition across States |
| III.9 Demography and State Expenditure: Stylised Evidence |
| III.10 India’s Healthcare Expenditure |
| III.11 Healthcare in States: Expenditure and Private Hospitals’ Share and Affordability |
| III.12 Healthcare Human Resources |
| III.13 Hospital Infrastructure |
| III.14 Government Spending on Healthcare |
| III.15 Flow of Migrant Population (inclusive of migrant labourers) in 2011 |
| III.16 MGNREGA Employment Demanded and Generated |
| III.17 Impact of COVID-19 on Unemployment and Labour Force Participation |
| III.18 Major Reverse Migration Corridors of Select States |
| III.19 Informal Employment and COVID-19 Lockdown Stringency – Cross-Country Comparison of Emerging Market Economies |
| III.20 MSMEs and COVID-19: Concentration Pattern |
| III.21 MSME Employment |
| III.22 Digital Competitiveness Score, 2020 |
| III.23 Digital Preparedness of States, 2020 |
| III.24 Direct Benefit Transfers – State-wise Analysis |
| III.25 Y-o-Y Growth Rate of Digital Transactions |
| III.26 Y-o-Y Change in Digital Transactions, Q1: 2020-21 |
| III.27 Credit to GSDP Ratio – State wise |
| III.28 Credit and Deposit Growth |
| III.29 Impact of COVID-19 on C-D Ratio across States |
| III.30 Share of Capex in Government Expenditure across Tiers: Cross Country |
| III.31 Per Capita Expenditure and Revenues of all ULBs in India (2017-18) |
| III.32 State Government Transfer of Resources and Expenditure of the ULBs (2011-12 to 2017-18) |
| III.33 State wise Farm vis-à-vis Non-Farm Share in Output |
| III.34 State-wise Industry Share and COVID-19 Impact |
| III.35 India’s Exports and Inward Remittances: State-wise Share |
| LIST OF APPENDIX TABLES FOR STATES’ BUDGETS 2020-21 |
| 1. Major Deficit Indicators of State Governments |
| 2. Devolution and Transfer of Resources from the Centre |
| 3. Development and Non-Development Expenditure: Aggregate |
| 4. Development Expenditure - Major Heads |
| 5. Non-Development Expenditure - Major Heads |
| 6. Development and Non-Development Expenditure |
| 7. Composition of Social Sector Expenditure |
| 8. Decomposition of Gross Fiscal Deficit |
| 9. Financing of Gross Fiscal Deficit |
| 10. Financing of Gross Fiscal Deficit - As Per cent of Total |
| 11. Composition of Outstanding Liabilities of State Governments |
| 12. Composition of Outstanding Liabilities of State Governments - As Proportion to Total |
| 13. State Government Market Borrowings |
| LIST OF STATEMENTS AND APPENDICES FOR STATES’ BUDGETS 2020-21 |
| LIST OF STATEMENTS |
| 1. Major Fiscal Indicators |
| 2. Revenue Deficit/Surplus |
| 3. Gross Fiscal Deficit/Surplus |
| 4. Decomposition of Gross Fiscal Deficit |
| 5. Financing of Gross Fiscal Deficit – 2018-19 (Accounts) |
| 6. Financing of Gross Fiscal Deficit – As per cent of Total – 2018-19 (Accounts) |
| 7. Financing of Gross Fiscal Deficit – 2019-20 (RE) |
| 8. Financing of Gross Fiscal Deficit – As per cent of Total – 2019-20 (RE) |
| 9. Financing of Gross Fiscal Deficit – 2020-21 (BE) |
| 10. Financing of Gross Fiscal Deficit – As per cent of Total – 2020-21 (BE) |
| 11. Development Expenditure |
| 12. Non-Development Expenditure |
| 13. Interest Payments |
| 14. Tax Revenue |
| 15. Non-Tax Revenue |
| 16. Loans from the Centre |
| 17. Devolution and Transfer of Resources from the Centre |
| 18. Composition of Outstanding Liabilities |
| 19. Total Outstanding Liabilities of State Governments |
| 20. Total Outstanding Liabilities - As percentage of GSDP |
| 21. Market Borrowings of State Governments |
| 22. State Government Market Loans |
| 23. Maturity Profile of Outstanding State Government Securities |
| 24. Maturity Profile of Outstanding State Government Securities - As Percentage of Total |
| 25. Investment Outstanding in Treasury Bills |
| 26. Expenditure on Education - As Ratio to Aggregate Expenditure |
| 27. Expenditure on Medical and Public Health and Family Welfare - As Ratio to Aggregate Expenditure |
| 28. Outstanding Guarantees of State Governments |
| 29. Expenditure on Wages and Salaries |
| 30. Expenditure on Operations and Maintenance |
| 31. Social Sector Expenditure |
| 32. Social Sector Expenditure to Total Disbursement |
| 33. Revenue Receipts of State Governments |
| 34. Revenue Expenditure of the State Governments |
| 35. Development Expenditure: Select Indicators |
| 36. Subsidies |
| APPENDICES |
| I. Revenue Receipts of States and Union Territories with Legislature |
| II. Revenue Expenditure of States and Union Territories with Legislature |
| III. Capital Receipts of States and Union Territories with Legislature |
| IV. Capital Expenditure of States and Union Territories with Legislature |
| NOTE TO APPENDICES |