State cash transfers emerge as new consumption buffer but fiscal costs rise: Crisil
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Budgetary action — an allocation, fiscal policy change, or expenditure decision shaping how public resources flow. Reveals government priorities and affects programme implementation capacity.
Summary
The report notes that the coverage and scale of these transfers have expanded sharply, but the rising fiscal burden on states poses a key risk for the bond market going forward
Key Facts
Type Budget
Source BusinessLine - Economy
Published Tuesday, 5 May 2026
Affected Population ~350 million BPL population, 140 million elderly
Key Numbers
PM-JAY: 55 crore beneficiaries
MGNREGA: Rs 86,000 crore annual outlay
NSAP pensions: 3 crore beneficiaries
GDP: $3.9 trillion (2025 est.)
Key Authorities
Key Stakeholders
Government Context
NDA III BJP-led NDA
Left Centre Right