Where Is The Government Spending? CARE Ratings Report
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CARE Ratings Research Report
Government spending tends to have a significant bearing on the economic fortunes of a region, more so in the current scenario which has witnessed a dramatic fall in economic activity and thereby limited spending by the population and businesses at large.
The expenditure that a government intends to undertake is detailed in its budget which is linked with flows of revenue from various sources, which is in turn tied to a certain baseline projection of economic growth.
The pandemic and resultant restrictions of the last year led to a dramatic drop in economic growth in the country and has upset the finances of the government at the centre as well as the states.
Their budget calculations for FY21, which was generally made before the lockdown has been greatly distorted (a few states presented their Budgets in June and September 2020).
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