States are going bankrupt

Worrying condition of debt in few states:

- Uttar Pradesh 6.1 Lakh Crores
- Madhya Pradesh 3.37 Lakh Crores
- Gujarat 3.1 Lakh Crores
- Haryana 2.29 Lakh Crores
- Uttarakhand 72 Thousand Crores
- Himachal Pradesh 63 Thousand Crores

These states might be next Sri Lanka!

Can the educated connected and knowledgeable members of localcircles take it upon themselves as a cause and get to discuss and escalate this issue.

Many of the CMs are busy in inaugurations and image building with no regards to state finances. Media does not want to write about this issue because its largely controlled by the states through ads more

Our states are bankrupt

State finances are a major causality caused by the pandemic. This was because the pandemic was a double whammy for the states. On the one hand, the extensive spread of the virus and the resulting lockdown badly hit the states’ revenues, which come largely from consumption taxes. On the other, the states, which are on the front line of the battle against the pandemic, were also forced to (increase) up their spending on health, social welfare and in other critical areas. The widened gap between growth of revenues and expenditures has forced the states to borrow huge funds to meet immediate needs. The attached shows the debt position of various states and if we add up, as a country we are jn bad state financially. Urge members of LocalCircles to share this post in your social media and with state/local contacts Our CMs are busy doing inaugurations, bhajan mandlis, bhashans and giving ads. If you dont hold them accountable, it may get out of control. Take action, u are a LocalCircles member. If u wont, no one else will.

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H.P. Gurg

Politicians have no right to give Freebies. This is Tax payers Money and it can not be LOOTAO by Politicians for their sticking in Power. more

Apr 20

Chandan Saha

Perhaps an ambitious vision to reach 3tn GDP at the cost of common public. Now Govt. is truly busy to quote figure only not the right impact on people. This is really painful. more

Apr 14

Rajesh Iyer

Almost every indian state is debt ridden. Main possible reasons, due to covid and freebies given to buy votes and form government. More imports and less exports, slackness in business revenue, tax evasion, excess goverment expenditures for the ministers and government officials, salaries and perks of govt staff. Need to cut down on spents according to revenue. more

Apr 12

NK SOMANI (Management Expert and Social Worker)

1 more

Apr 12

Arun Singh

The real problem states are going to be Punjab, Rajasthan, Telengana, Tamil Nadu, Andhra Pradesh, West Bengal, Delhi where splurging has been made into an art for buying votes. UP is the most populated state so per capita debt is not very high vis a vis Punjab. more

Apr 10

Vishnu Aravind

Many states are doing this. Instead of looking for long term vision of how to build the nation strong, the money is just spend on policy to win votes. Like increase the pension for jobless. Rather if they would have spend this money for afforestation, give certain amount of seeds cost free to farmers, subsidies to farmers who sell their produce to govt markets, more govt procurement centers for farmer produce that would have been good. more

Apr 11

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