These states, which account for over 90 per cent of India’s gross state domestic product, grew at 7.5 per cent last fiscal, according to the CRISIL Ratings report.
In a recent report, rating agency CRISIL has said the costlier onion, tomato and potato have spiked the cost of a home-cooked vegetarian thali by 8% in April to Rs 27.4 compared to Rs 25.4 in the same month last year.
The report points out that Indian airlines, such as Air India and IndiGo, are strategically adding new aircraft to their fleets and launching new international routes which are cutting travel time.
The revision in the rate of tax collected at source (TCS) on overseas travel packages may not have a material impact on demand.
The cost of preparing a vegetarian thali at home has gone up by 34 per cent while that of a non-vegetarian thali went up by 13 per cent in July as compared to the input prices that prevailed in June 2023, CRISIL said in a report.
The five steelmakers could cut Rs 25,000 crore of debt this fiscal. Next fiscal, despite capex rising by 15 per cent, they can slice debt by another Rs 10,000 crore.
In a radical shift from the current methodology where the call option date of the bond was considered for calculation, the regulator has also directed MFs to value perpetual bonds (AT1) based on a 100-year maturity.
Besides, it said that trade has also normalised faster than the rest of the economy, with both exports and imports scaling pre-pandemic levels.
"For the record, sales had recovered to over 80 per cent of pre-pandemic levels in the third quarter and are expected to recover almost fully by the close of the current quarter," Crisil said in a statement.
With this, the states' aggregate gross fiscal deficit (GFD) will not only get expanded to an all-time high of Rs 8.7 lakh crore, or 4.7 per cent of GSDP.
