An RBI report on State finances found that Assam, Kerala, Tamil Nadu, West Bengal and Puducherry have steadily lowered their debt-to-GSDP ratios by up to 4 percentage points since 2021 without cutting development spending. As per 2025-26 Budget Estimates, West Bengal has the highest ratio at 39%, Kerala reduced its liabilities by 4.8 points to 35.5%, Tamil Nadu stands at 29.2%, Assam at 28% and Puducherry at 26%. All remain above the 20% limit set under the FRBM Act. The report also noted that about a fifth of Kerala's and Tamil Nadu's population is over 60.