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State Finances 2023-24
January 10 , 2026
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- The Comptroller and Auditor General (CAG) of India released the second edition of the ‘State Finances 2023-24’ report.
- The report presents an overview of the finances of all 28 States for the financial year 2023-24.
- Public debt of States stood at ₹67.87 lakh crore, about 23% of the Gross State Domestic Product (GSDP).
- The Eighteen States have exceeded the fiscal deficit benchmark of 3% of GSDP recommended by the 15th Finance Commission.
- Revenue expenditure on salaries, pensions, and interest consumed around 60% of total revenue expenditure.
- Dependence on Union tax devolution rose from ~21% in 2014-15 to ~30% in 2023-24.
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