HP
Himachal Pradesh Economy
2026-27
35
Fiscal Score
High Risk · Under Stress
Himachal Pradesh's finances are at a high-risk level.
The state is currently spending much more than it earns. This has led to a very high debt level that may be difficult to pay back in the future. The government is currently paying a large portion of its income just as interest on old loans.
Fiscal Matrix
vs RBI FRBM Benchmark (3.5%)High Risk
4.50%
Fiscal Deficit / GSDP
RBI Limit: 3.5%
MetricStateRBI NormStatus
Fiscal Deficit ⓘ
4.50%≤ 3.5%
✕ Exceeded
Revenue Deficit ⓘ
-0.2%≤ 0%
✕ Deficit
Debt / GSDP ⓘ
40.10%≤ 25%
✕ Excessive
Interest / Revenue ⓘ
14.3%≤ 15%
✓ Manageable
Live Debt Clock
Estimated accumulation this FY
LIVE
Total Outstanding Debt
₹
...
Crore
Debt per Citizen
₹ 1,14,667
Detailed debt composition (internal/central/other) is not available at the state level in the current dataset. Refer to the RBI State Finances report for a full breakdown.
Formula: Base Debt + (Fiscal Deficit ÷ 365 × Days Elapsed)
Revenue vs Expenditure
FY 2026-27 Budget Estimates
Based on FY 2026-27 Budget Estimates only. Historical actuals are not included in the current dataset.
Revenue Receipts
FY 2026-27Total Revenue Receipts
₹42,000
Crore
Revenue composition (own tax, central transfers, non-tax) varies significantly by state and is not available in the current dataset. Refer to the RBI State Finances report for a detailed breakdown.
State vs National Avg
Key ratio comparisonKey Indicators
Tax RevenueOwn tax + Central share
₹29,400Capital ExpenditureAsset creation
₹10,600Interest PaymentsServicing past debt
₹6,020Explore Other States