India States’ average per capita debt jumps 16.4% for 3-year period ending FY21

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(The Times of India)

The average per capita debt of 13 major Indian states has risen by 16.4 per cent in the three years ending FY21, while their per capita income grew by 7.1 per cent during this period, according to a report by the SBI Research.

The maximum addition in states’ borrowing has taken place this fiscal due to the pandemic that has eaten away their revenue by 21.2 per cent, it said.

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