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 of 18 states (together accounting for ~87% of all states), the total receipts of all states surged 21.4% YoY in Q2 FY22, leading to growth of 24.8% YoY in H1 FY22.
On the contrary, the total spending by states grew relatively slower by 16.8% YoY last quarter, implying growth of 16.2% YoY in H1 FY22.
Consequently, on an aggregate level, states’ fiscal deficit stood at 40.2% of budget estimate in H1 FY22 – this was lower than 55.6% of BE (44.4% of provisional estimates) in H1 FY21, but higher than the average of 36.5% of BEs (44% of actuals) in the first halves of FY18 to FY20.
States’ total taxes grew 22.8% YoY in Q2 FY22, supported by a favorable base (down 10.4% YoY in Q2 FY21).
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