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K-shaped recovery in India’s government finances: Insights from Motilal Oswal's EcoScope

Data shows that Indian government’s revenue collection has shown a K-shaped recovery post-COVID.

  • Total receipts of the Centre has seen a record high in eleven years, at 10.3% of the GDP.

  • At the same time, states’ total receipts were just 9.7% of GDP in 9MFY22, lower than 10% in FY21, the lowest in 19 years
    Exhibit 2

  • For the first time in a decade, the Centre’s total receipts were more than that of the states in 9MFY22. The Centre accounted for roughly 44% of total receipts in the pre-COVID period

Read the report here: https://www.dropbox.com/s/khvxdya1c7tb90g/Eco%20Scope%20-%20April%202022%20(Part%20II).pdf?dl=0