States

Diwali 2024 Firecrackers banned in all these Indian states Check details

Fiscal profligacy by poll-bound states needs to be closely watched: UBS

Fiscal profligacy by poll-bound states needs to be watched closely, as higher spending on welfare measures will impact capital expenditure over the coming years, a Swiss brokerage said on Friday. A total of 11 states have gone to polls or are likely to have elections soon, the report by UBS Securities said, adding that four of them -- Maharashtra, Madhya Pradesh, Rajasthan and Odisha -- have increased their fiscal deficit targets. "The recent fiscal profligacy seen in poll-bound states should be watched closely," the report said. In the last few years, states managed to control their fiscal deficit under the 3 per cent level proposed by the Fifteenth Finance Commission, the report said, acknowledging that the Centre has also been bringing down the fiscal deficit. The poll-bound states are increasing their welfare spending and stimulus, which has led to a widening in their aggregate FY25 fiscal deficit estimates by 0.20 per cent in the budgets presented in June or July, it said. "W

Doc safety meet: Centre asks states to hold night patrols, control access

This comes a day after the ten-member National Task Force (NTF), appointed by the Supreme Court, met for the first time to formulate a protocol for the safety and security of healthcare professionals

Watch: Rahul Gandhi speaks to cab driver, asks what Congress-led states can do

SC allows states to seek refund of royalties on minerals from Centre

The court ruled that the payment of these demands shall be staggered in instalments over a period of 12 years, commencing from April 1, 2026

Review availability of heatstroke rooms at health facilities: Govt

With many parts of the country in the grip of a heatwave, the Centre has asked states and Union territories to conduct follow-up reviews to ensure dedicated heat stroke rooms at all health facilities besides implementing critical fire and electrical safety measures. Dr Atul Goel, Directorate General of Health Services (DGHS), Union Health Ministry conducted a virtual review meeting with states and UTs to assess the preparedness for heatwave conditions and fire safety measures adopted by various healthcare facilities across the country. State Health departments have been issued advisories and asked to implement guidelines on strengthening health systems preparedness for Heat-Related Illnesses (HRI) besides issuing a public health advisory with do's and don'ts. They have been urged to follow the guidelines on emergency cooling for severe heat-related illnesses and autopsy findings in heat related deaths. State health departments have been asked to adhere to the joint communication fr

Most states out with draft rules under new labour codes: Labour Secy Dawra

Says states are making sure the industry does not have to face different rules while moving from one state to another

Lok Sabha Election: Phase 3 | voting date | States| Constituencies | key Candidates

Heatwaves: Govt ask states, UTs to assess public health preparedness

The move comes after Union Health Minister Mansukh Mandaviya chaired a review meeting on Wednesday

States, Union Territories plans to borrow up to Rs 2.5 trn in Q1FY25

In the first quarter of the financial year 2023-2024, states had borrowed 84 per cent of the notified amount of Rs 1.9 trillion

State govt bonds to yield better returns under new investment regime

Under the new norms, banks must categorise bonds as "held-to-maturity" on a permanent basis, with the exception of 5 per cent of the portfolio that can be withdrawn throughout the year

Borrowing cost for states decline for third week in a row to 7.44%

The borrowing cost for states continued to fall for the third week in a row, with the weighted average price falling to 7.44 per cent in the debt auction on Tuesday. The cost had remained at a two-year high throughout January sniffing at 7.8 per cent. However, the overall cost has been falling since the interim Union Budget, which forecast a lower than anticipated borrowing and a fiscal deficit target of 5.8 per cent for this fiscal and 5.1 per cent for the next financial year. The weighted average cut-off rate eased by 2 basis points to 7.44 per cent on Tuesday, with issuance trailing the indicated amount for the fifth consecutive week, Icra Rating said in a note. Twelve states raised Rs 32,800 crore through State Government Securities (SGS) on February 27 and the amount is 27 per cent lower than the highest-ever weekly auction of Rs 45,200 crore indicated for this week in the fourth quarter auction calendar. Both limited supply and the falling overall interest rates pulled down

Claims Centre not releasing funds 'politically-vitiated narrative': FM

Union Finance Minister Nirmala Sitharaman on Monday came down heavily on allegations that the Centre is withholding funds meant for non-BJP governed states, saying it is a "politically-vitiated narrative" that "vested interests" are happy to go about saying. Replying to a question by Congress leader Adhir Ranjan Chowdhury in the Lok Sabha on the Karnataka government's claim that the Centre is not releasing funds due to it, Sitharaman said such a situation cannot happen as the "system is well placed" and the central government works according to recommendations of the Finance Commission. "This apprehension that some states are being discriminated against is a politically-vitiated narrative which, I am sorry to say, vested interests are happy to go about saying," she said during Question Hour. Sitharaman added that no Union finance minister can play with the Finance Commission's recommendations. "This is just not a possibility that any finance minister can intervene to say that 'I do

Viksit Bharat: Centre to provide Rs 75,000 cr interest-free loan to states

The Union government will provide Rs 75,000 crore as interest-free loan for 50 years to support reforms by states for realising the vision of 'Viksit Bharat'. The government has set a vision to make India a developed nation by 2047. Finance Minister Nirmala Sitharaman made the proposal in this regard in her Budget speech in the Lok Sabha on Thursday. Many growth and development enabling reforms are needed in states for realizing the vision of 'Viksit Bharat', she said. "A provision of seventy-five thousand crore rupees as fifty-year interest-free loan is proposed this year to support those milestone-linked reforms by the state governments," the minister said. According to the Budget documents, total resources being transferred to the states, including the devolution of states' share, grants/loans and releases under centrally sponsored schemes in 2024-25 (Budget Estimates), stand at Rs 22,22,264 crore. This is an increase of Rs 4,13,848 crore over actuals of fiscal year ...

States' loan guarantee more than triples since FY17 to Rs 9.4 trn in FY23

The total loan guarantees extended by 17 major states to their entities have more than tripled to Rs 9.4 lakh crore by FY23 from Rs 3 lakh crore in FY17, says a report. While guarantees are contingent liabilities, they may pose a risk to states' fiscal health if a substantial proportion of the stock needs to be serviced by them, warranting robust guarantee monitoring and prudent extension of guarantees in the future so that the financial system as a whole remains resilient. States often sanction and issue on behalf of their various enterprises, cooperative institutions, and urban local bodies guarantees in favour of their lenders which are generally banks or other financial institutions. The total loan guarantees extended by the 17 major states to their entities have more than tripled to Rs 9.4 lakh crore as of FY23 from Rs 3 lakh crore in FY17. This is equivalent to the entire increase in such guarantees of these states during FY2017-22, Icra Ratings chief economist Aditi Nayar sai

States continue to pay high coupon on debt at over two-year high of 7.72%

The weighted average rates of state debt continued to remain at an over two-year high of 7.72 per cent at the second weekly auction of the quarter on Tuesday, making it the highest so far this fiscal. Accordingly, the spread between 10-year state bonds and benchmark G-sec yield also remained firm at 54 bps, with both inching up by 1 bps from the previous week, according to a note by Icra Ratings' chief economist Aditi Nayar. Nine states raised Rs 19,300 crore from the market selling government securities, which was 34 per cent lower than the amount indicated for this week in the auction calendar. Despite lower supply, the weighted average cut-off inched up to 7.72 per cent, which is the highest so far in FY24 from 7.71 per cent last week. The payout increased in spite of the weighted average tenor remaining unchanged at 11 years. Both this had the spread between the cut-off of the 10-year state bonds and the 10-year benchmark G-sec yield inching up to 54 bps from 53 bps last week,

State rules against basic ethos, spirit of labour codes, finds Study

An objective analysis of these rules indicates that with respect to many of the aspects, there is too much divergence not only between the central and state/UT rules but also among the state rules

Arrested development: States are hardly spending on modernising police

They allot little money from their own budgets and underutilise the money the centre gives them

States' borrowing cost jumps 10 bps to reach 23-week high of 7.56%

States' borrowing cost jumped 10 basis points to 7.56 per cent at the first weekly debt auction of the third quarter on Tuesday and is the highest in the the past 23 weeks. Fourteen states raised Rs 22,500 crore through the issuance of state government securities in line with the indicated amount for this weekly auction for the third quarter calendar. According to Aditi Nayar, the chief economist at Icra Ratings, the auctions saw a steep increase in the cut-offs across tenors leading to the weighted average cost jumping to a 23-week high of 7.56 per cent. It stood at 7.46 percent last week. The higher pricing of the borrowing is despite a steep decline in the weighted average tenor to 13 years from 17 years, Nayar said. Moreover, she said the spread between the cut-off of 10-year state bonds and the new 10-year G-Secs (7.18 GS 2033) yield rose mildly to 33 bps from 32 bps last week. On an annualised basis to the week, the states have drawn down 15.4 per cent more than what they

Centre holds meeting on Covid, asks states to ramp up genome sequencing

Amid detection of newer variants of coronavirus globally, the Centre on Monday held a high-level meeting and asked states to ramp up whole genome sequencing of positive samples and keep close watch on the global variants. Principal Secretary to Prime Minister, Dr P K Mishra, after the deliberations highlighted that while the Covid situation in the country remains stable and public health systems remain geared up, there is need for states to monitor trends of influenza-like illness (ILI) and severe acute respiratory infection (SARI) cases, an official statement said. He also emphasised on sending sufficient samples for testing of COVID-19 while ramping up whole genome sequencing and maintaining close watch on the new global variants. An overview of the global COVID-19 situation was given by Health Secretary Sudhansh Pant, including certain newer variants of SARS-CoV-2 virus like BA.2.86 (Pirola) and EG.5 (Eris), which have been reported globally. He underlined that as per the World