₹37K Cr Surplus vs ₹43K Cr Deficit: CAG’s State Finance Divide, 9 Points
16 Surplus States, 12 in Deficit: ₹59.6 Lakh Cr Debt Exposed
The Comptroller and Auditor General (CAG) of India has released the State Finances Report for FY 2022-23. It shows a sharp contrast—16 states reported a revenue surplus, while 12 states posted revenue deficits.
1. Revenue Surplus States (₹ in Crore)
| Rank | State | Revenue Surplus (₹ Cr) |
|---|---|---|
| 1 | Uttar Pradesh | 37,000 |
| 2 | Gujarat | 19,865 |
| 3 | Odisha | 19,456 |
| 4 | Jharkhand | 13,564 |
| 5 | Karnataka | 13,496 |
| 6 | Chhattisgarh | 8,592 |
| 7 | Telangana | 5,944 |
| 8 | Uttarakhand | 5,310 |
| 9 | Madhya Pradesh | 4,091 |
| 10 | Goa | 2,399 |
🔹 UP leads with ₹37,000 Cr surplus, followed by Gujarat & Odisha.
🔹 Even former BIMARU states (UP, MP) now post strong surpluses.
2. Revenue Deficit States (₹ in Crore)
| Rank | State | Revenue Deficit (₹ Cr) |
|---|---|---|
| 1 | Andhra Pradesh | 43,488 |
| 2 | Tamil Nadu | 36,215 |
| 3 | Rajasthan | 31,491 |
| 4 | West Bengal | 27,295 |
| 5 | Punjab | 26,045 |
| 6 | Haryana | 17,212 |
| 7 | Assam | 12,072 |
| 8 | Bihar | 11,288 |
| 9 | Kerala | 9,226 |
| 10 | Himachal Pradesh | 6,336 |
| 11 | Maharashtra | 1,936 |
| 12 | Meghalaya | 44 |
🔹 Andhra Pradesh tops deficit list with ₹43,488 Cr loss.
🔹 Major industrial states like Tamil Nadu & Maharashtra also face deficits.
3. Revenue Receipts vs Expenditure (Efficiency Levels)
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90–100% coverage → Bihar, Kerala, Maharashtra, Meghalaya.
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80–90% coverage → Assam, Haryana, Himachal Pradesh, Rajasthan, Tamil Nadu, West Bengal.
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75–80% coverage → Andhra Pradesh, Punjab (highest fiscal stress).
4. State Revenue Sources (FY 2022-23)
| Source | Amount (₹ Cr) | % of Revenue Receipts | % of GSDP |
|---|---|---|---|
| States’ Own Tax Revenue | 16,98,675 | 48.35% | 6.54% |
| Share in Union Taxes | 9,48,590 | 27% | 3.65% |
| Grants-in-Aid (CSS) | 2,74,365 | 7.81% | 1.06% |
| Grants-in-Aid (Others) | 3,17,464 | 9.04% | 1.22% |
| Non-Tax Revenue (Interest, etc) | 27,373 | 0.78% | 0.11% |
| Non-Tax Revenue (Others) | 2,46,627 | 7.02% | 0.95% |
| Total Revenue Receipts | 35,13,095 | 100% | 13.53% |
5. Union Taxes & Grants Distribution
a) Union Taxes (₹9,48,590 Cr) – Top 6 States got 56%
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UP – 17.89%
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Bihar – 10.07%
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MP – 7.86%
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WB – 7.53%
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Maharashtra – 6.33%
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Rajasthan – 6.03%
b) Central Grants & Assistance (₹5,91,830 Cr) – Top 9 States got ~60%
-
UP – 10.12%
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Maharashtra – 8.69%
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WB – 6.47%
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Tamil Nadu – 6.38%
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MP – 6.24%
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Karnataka – 6.23%
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Andhra Pradesh – 6.11%
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Rajasthan – 5.04%
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Assam – 5.03%
6. State Expenditure Trends
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Total Expenditure: ₹42,43,920 Cr.
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Social + Economic Sectors: ₹28,49,588 Cr (67% share).
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10-Year Trend: 66–71% consistently spent on these sectors.
7. Debt Burden of States
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Total Debt (28 states): ₹59,60,428 Cr.
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As % of GSDP: 22.96% of combined GSDP (₹2,59,57,705 Cr).
8. Grants & Assistance Growth (2013-14 → 2022-23)
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Share in Revenue Receipts: 14.31% → 23.66% (2020-21 peak) → 16.85% (2022-23).
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Grants in ₹ terms: ₹1,92,109 Cr (2013-14) → ₹5,91,830 Cr (2022-23).
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As % of GSDP: 1.82% → 2.28%.
9. Political Angle
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Of the 16 surplus states, 10 were BJP-ruled in FY23.
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Opposition alleges favouritism in central allocation of funds.
Key Takeaways
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UP leads surplus (₹37,000 Cr), while Andhra tops deficit (₹43,488 Cr).
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Debt remains massive at ₹59.6 Lakh Cr (22.96% of GSDP).
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Central grants & taxes distribution heavily influences state finances.
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Fiscal stress rising in industrial & welfare-heavy states (TN, WB, Punjab).
Disclaimer (The Profit India)
This article is based on official data from the Comptroller and Auditor General (CAG) of India for FY 2022-23. The Profit India presents it in a simplified format with tables and analysis for informational purposes only. It does not constitute financial advice, investment guidance, or political opinion. For full details, readers should refer to the official CAG report.
