Kerala, a highly developed state in India, is facing a grave financial crisis.
The state has run up a loss of 1,11,000 crores and is unable to pay salaries and pensions.
Kerala has been using borrowed funds to pay off its expenses.The financial crisis is a result of excessive spending and inefficient tax collection.
Kerala has a high committed expenditure, which is the compulsory budget for government salaries, pensions, and interest payments.
The state also spends a large portion of its revenue on interest payments, which is almost 20%.
The inclusion of off-budget borrowings in the state's account as debt has also contributed to Kerala's financial crisis.Studying the cause and effects of economic crises is essential for citizens to keep an eye on the government.
#kerala #congress #bjp #geopolitics #financialcrisis #bankrupty #gstsharing #detailing #centrestaterelationship
Негізгі бет Kerala financial crises Explained
Пікірлер: 1