New Delhi, March 27 -- Gujarat, Karnataka, Maharashtra, and Odisha have emerged as the top-performing states in terms of financial strength.

According to a report by CareEdge Ratings these states have a strong revenue base, with state-own revenues (SOR) making up 60-80 per cent of their total revenue receipts. Have a low revenue deficit, which means they can spend more on development. Have low debt levels, with debt-to-GSDP ratios between 16-27 per cent.

It said, "These states carry low leverage with Debt (including guarantees) to GSDP in the 16-27 per cent range, the interest / RR is low, averaging approx. 9 per cent"

The report also suggested that while tax revenues are growing, states need to accelerate their spending on infrastruct...