Summary

India's real GDP is expected to grow 9.5% in the current fiscal, clawing past a very difficult fiscal 2021.

While this fiscal started off with the ferocious second wave of the Covid-19 pandemic, green shoots of recovery abound with the gradual relaxation of restrictions across states. While that is positive for government revenue collection, expenditure remains elevated and sticky because of a high proportion of committed spend (salaries, pensions and interest cost), and the imperatives of developmental expenditure, especially on healthcare and labour welfare.

To be sure, there is some cushion created because of the government's decision to fund the Goods and Services Tax compensation gap for the second fiscal in a row, and because of the extended borrowing limits of states to facilitate their expenditure management.

Against this backdrop, Crisil is organising a webinar where our experts will present their views on:

• Recovery patterns across states
• The impact of the pandemic waves on the states
• Trends in revenue collection and revenue deficit
• Outlook on capital outlays and state fiscal deficit
• Impact of indebtedness on deficit financing

This will be followed by a panel discussion and a Q&A session. Do log in.

Eminent panellists: