Will state debt become a headache for the #taxpayer?
Watch the new episode of #KambakhtPaisa where Abhinav Trivedi & team explain how #freebies impact the state #economy and put the incomes of our future generations in jeopardy.
What is the impact of #freebies on the economy of a state?
According to the recent #RBI reports, #debts for many #states are ballooning. Most fiscally stressed among them are Punjab, Bihar, MP, UP, West Bengal, Rajasthan, Kerala & Haryana. The main cause of high debts are freebies given on the back of election promises. Free electricity tops the chart with the debt on #PowerDiscoms skyrocketing to Rs 59,000 crore in FY21-22. On the back of slow revenue growth for some states, not only will this result in less money available for education, infrastructure and development but also tax burden on future & present taxpayers of the state.