Tamil Nadu’s fiscal deficit highest in India

[vgane]

Share:

Facebook X Bluesky LinkedIn WhatsApp Email Share Link

With liquor revenue also likely to reduce in the near future it is going to be a tough time for TN to have so many freebies & subsidies!

[h=1]Tamil Nadu’s fiscal deficit highest in India[/h] June 30, 2016
by Arun



Tamil Nadu showed the highest gross fiscal deficit across all states in 2015-16, Maharashtra continued to be the richest state in the country while Punjab witnessed steady fall in the number of factories between 2010-11 and 2013-14, according to Reserve Bank of India’s first edition of the Handbook of Statistics on Indian States. Maharashtra continued to remain the richest state in the country, with a gross state domestic product (GSDP) in 2014-15 recorded at about Rs 9.50 lakh crore at constant prices, rising 5.7 per cent from 2013-14. The second-richest state in terms of GSDP was Tamil Nadu, closely followed by Uttar Pradesh at about Rs 5 lakh crore each, in 2014-15. Tamil Nadu’s gross fiscal deficit was estimated at Rs 31,830 crore, followed by Uttar Pradesh’s Rs 31,560 crore for 2014-15. Maharashtra’s fiscal deficit, third widest in the country, was at Rs 30,730 crore for the period. The total fiscal deficit of all states included was at Rs 3,33,330 crore, down 8.8 per cent from the previous year. Maharashtra also continues to top in terms of state-wise availability of power, generating 141,361 million units net compared with the second-highest generator Gujarat, which made available 103,540 million units as of 2015-16. For the full of India, the country made available 1,090,713 million units net of power in 2015-16, compared with 1,030,785 million units net a year ago.
Banks disbursed most loans in the southern region, which comprises Andhra Pradesh, Karnataka, Kerala, Tamil Nadu, Lakshadweep, Puducherry and Telangana. Credit deposit ratio in Tamil Nadu was as high as 119 as of March 2015. Compared to that, the most developed state Maharashtra’s credit deposit ratio was at 92. The all-India average credit deposit ratio was at 77.1.


http://www.daytodaygk.com/tamil-nadus-fiscal-deficit-highest-india/

 

[kunjuppu]

Can anyone please help me out with what this below means in vgane OP? Thank You.

I do not understand the term, Credit deposit ratio, and what its impact is.

Credit deposit ratio in Tamil Nadu was as high as 119 as of March 2015. Compared to that, the most developed state Maharashtra’s credit deposit ratio was at 92. The all-India average credit deposit ratio was at 77.1.

 

[Vaagmi]

Can anyone please help me out with what this below means in vgane OP? Thank You.

I do not understand the term, Credit deposit ratio, and what its impact is.

Credit deposit ratio in Tamil Nadu was as high as 119 as of March 2015. Compared to that, the most developed state Maharashtra’s credit deposit ratio was at 92. The all-India average credit deposit ratio was at 77.1.

Dear kunjuppu,

It means just that for every 100 Rs. deposit gathered from Tamilnadu Banks lent Rs.119. This implies that the extra nineteen rupees has from other states for lending in Tamilnadu. In the case of Maharashtra out of every hundred rupees saved in that state only rs. 92 was lent.

Banks lend where opportunities are there.

Deposit with Banks depends on the avenues available for deployment of money and the saving capacity which directly depends on earnings and the surplus..

Tamilnadu's Fiscal defecit as a percentage of the state's GDP is still satisfactory. That means there are avenues for taxing and closing the gap. It requires only the political will to tax without touching the welfare measures.
When pushed to the corner our political masters do come with the right solutions.

 

[kunjuppu]

Thank You very much Vaagmi.

On the whole, inspite of investments in large $$ amount industries (like that of Gujarat), Tamil Nadu remains high on the industrial development scale.

I guess we do not hear much of the small scale industries' proliferation and how widespread it is in the districts. Would you say most of these are owned by Gounders, Naidus and Nadars?

Thanks.