Top 11 states' social welfare spends to hit 10-year-high of Rs 4 lakh crore in FY24: Crisil
According to a report by Crisil Ratings, the top Indian states are expected to spend a record-high amount of Rs 4 lakh crore on social welfare in the current fiscal year. This accounts for 1.7% of their combined Gross State Domestic Product (GSDP). The report also highlights a 16% jump in the compounded annual growth rate of social welfare schemes between 2017-18 and 2023-24.
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