States' revenue growth to accelerate 9-11% as GST collections rise 16% in first five months: Crisil

Revenue growth for 18 major Indian states is projected to accelerate to 9-11% in fiscal 2027. This means that these states can expect a significant increase in their combined revenues, surpassing ₹44 lakh crore. The main driver of this growth is a 16% rise in Goods and Services Tax (GST) collections, which is a result of strong consumption and import gains. This boost in revenue will help state balance sheets become more stable.

Why it matters

Crisil's forecast of accelerating revenue growth for Indian states could lead to increased investor confidence. This growth is driven by rising GST collections, which may result in improved fiscal health for the states.

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