India, July 10 -- Merely a week after the Rs.6,12,293 crore budget for 2024-25 was presented, the state government tabled the supplementary demands of Rs.94,889 crore, making it the highest ever in history. The supplementary demands mostly aim to finance the populist schemes announced in the budget in anticipation of the upcoming Assembly polls scheduled for October this year.

The budgetary allocation is expected to result in a rise in the revenue deficit of Rs.20,051 crore, leading to borrowing of more than the estimated Rs.71,713 crore for the financial year. This has posed a risk of the state crossing the 3% limit of fiscal deficit to over 4.8% of the Gross State Domestic Product (GSDP), which is expected to be Rs.4,267,771 crore in 2...