CAG's State Finances Report 2023-24: A Decade of Fiscal Insights

The Comptroller and Auditor General (CAG) of India released the 2023-24 State Finances publication, offering a detailed, audited review of 28 states' finances over a decade. The report introduces new analyses, covers key fiscal aggregates, and supports fiscal transparency through interactive dashboards, aiding policymakers and stakeholders.

The Comptroller and Auditor General (CAG) of India, K Sanjay Murthy, unveiled the second edition of the State Finances Report for 2023-24 today. This publication builds on the previous edition by providing a consolidated, audited overview of the financial health of all 28 Indian states.

Spanning a ten-year period from 2014-15 to 2023-24, the report enhances analytical depth with new macro-fiscal analyses. It delves into aspects such as public debt, revenue, and expenditure, as well as granular details on States' Own Tax Revenue (SOTR) and subsidies. The publication also assesses liabilities and fiscal responsibility indicators while proposing harmonisation of expenditure classifications from FY 2027-28.

Accompanied by interactive dashboards on the CAG website, the report aims to foster transparency and informed policy decisions. This comprehensive document is designed to support policymakers, researchers, and financial managers by providing a robust framework for inter-state and temporal fiscal evaluation.