The State Finances Matrix

Reading the measures · each has its own base (shown under every row)

Revenue Balance — everyday income minus everyday spending; a surplus means the state covers its running costs.

Deficit-Borrowing — share of net borrowing eaten by the revenue deficit; surplus states borrow nothing to plug a gap, so they tie at zero.

Capex Per ₹1 Borrowed — capital spending as a share of net borrowing — above 100% means it builds more than it borrows.

Public Debt — the state's own borrowing (market loans + central loans), measured against GSDP.

Total Liabilities — public debt plus public-account dues — provident funds, deposits — measured against GSDP.

North-Eastern & Hill States — ratios look unusually strong because their economies are small and heavily centre-funded — read with care.