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.
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Our CMs are busy doing inaugurations, bhajan mandlis, bhashans and giving ads. If you dont hold them accountable, it may get out of control.
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