New Delhi, April 18 -- Indian states are expected to see slower revenue growth in the financial year 2025-26 (FY26) compared to FY25, mainly due to weaker growth in non-tax revenue.

This was highlighted in a recent report by ICICI Bank, which analysed budget documents of 15 states that together contribute around 90 per cent of India's GDP.

The report said, "States have penciled in lower revenue growth in FY26 compared to FY25 (13% vs 16%) on account of lower growth in 'Own Tax Revenue' and 'Transfers from the Center".

According to the report, the total receipts of these states are estimated to grow by 12 per cent year-on-year (YoY) in FY26 to Rs 59 trillion. In comparison, the growth in total receipts for FY25 is estimated at 16 per ce...