Outstanding liabilities as a share of GSDP in 2022-23

Some states seen an increase

• while some of the NE states have managed to lower their liabilities as a share of GSDP, states like Meghalaya and Nagaland have seen an increase in their outstanding liabilities as a share of GSDP.

Outstanding liabilities of NE states

Some states deviated from the path

some of these states have deviated from the path of debt reduction laid out by the Fifteenth Finance Commission, exception of Assam, Sikkim and Tripura (for some years).

15th FC glide path

• The own tax revenue to GSDP ratio for northeastern states is far lower than the average of general states.
• While there is a scope for raising their own tax revenues, the structure of their economies characterised by dominance of agriculture, mining and forestry limits the scope for enhanced revenue generation.
• Further, growth is volatile as it is driven by mining and forestry.

Committed Expenditure means?

• Committed expenditure is the sum of expenditure on salaries, pension and interest payments.

Higher proportion of Committed expenditure

• The northeastern states incur a higher proportion of their expenditure on committed expenditure.

Mizoram

• For instance, in the current year, Mizoram is expected to spend 63% of its revenue receipts on committed expenditure out of which 40% of revenue receipts is estimated to be spent just on salaries.

Nagaland

• 72% of revenue receipts is to be spent on committed expenditure in the current year.
• A higher share of committed expenditure limits the ability of states to spend on capex. 
• capital outlay in the current year is expected to contract by 42% over the previous year.

Committed expenditure as a share of Net revenue receipts for NE states

Share of SDLs

• The secondary market for state development loans (SDLs) is characterised by lower trading volumes.
• The share of SDLs in the overall government securities market is between 5-6%.
• Within the SDL market, there is significant disparity across states.
• In the previous financial year, the securities issued by Maharashtra, Gujarat and Tamil Nadu accounted for a significant proportion of trading.

Trading volumes in SDLs

Print

February 2026

Buddhist Circuit development (Union Budget of 2026-27)

• Heritage cum Tourism Initiative
• Focused on the preservation, development, and promotion of Buddhist monasteries and pilgrimage sites across the North Eastern states
• Ministry of Tourism & Ministry of Culture is the nodal ministry.
• Aligned under the Swadesh Darshan scheme of the Ministry of Tourism, under which thematic tourist circuits, including the Buddhist circuit and Himalayan circuit, are developed

States Covered

1. Arunachal Pradesh,
2. Sikkim,
3. Assam,
4. Manipur,
5. Mizoram,
6. Tripura

2 Components:

1. Heritage conservation

• Preservation and Restoration of Buddhist Temples and Monasteries

2. Pilgrimage interpretation centers

• To explain the spiritual, historical, and cultural significance of the location