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Kerala, Nagaland, Punjab and Assam followed. At the other end, Delhi had the lowest ratio at 0.0 per cent, followed by Telangana, Chhattisgarh, Arunachal Pradesh and Jharkhand.
The data are derived from the Reserve Bank of India’s 2025 Handbook of Statistics on Indian States and are based on the 2024-25 Budget Estimates.
What does pension expenditure as a share of revenue receipts tell us?
The ratio measures the proportion of a state’s revenue receipts that goes towards pension expenditure.
A higher ratio means pension spending accounts for a larger part of the revenue available to the state. A lower ratio means pension expenditure takes up a smaller share of revenue receipts.
The indicator helps compare the relative size of pension expenditure across states with different revenue bases. It does not assess whether pension benefits are adequate or whether a state’s pension system is appropriately designed.
How is pension expenditure as a share of revenue receipts calculated?
The tracker calculates the metric by comparing pension expenditure with revenue receipts. Expressing the figure as a percentage makes it possible to compare states of different sizes.
The RBI data include state-wise pension expenditure. RBI’s Handbook of Statistics on Indian States provides state-wise fiscal data, while its State Finances: A Study of Budgets of 2024-25 covers state budget estimates for 2024-25.
Formula: Pension expenditure ÷ Revenue receipts × 100
The tracker also states that revenue receipts are derived as revenue expenditure minus revenue deficit.
Which states are in the Top 5?
Delhi ranked first on the metric, with pension expenditure accounting for 0.0 per cent of revenue receipts in the tracker. Jharkhand, ranked fifth, recorded a ratio of 7.9 per cent. The gap between the first and fifth positions was 7.9 percentage points.
Which states are in the Bottom 5?
Himachal Pradesh had the highest ratio at 23.6 per cent, followed by Kerala at 20.6 per cent. Assam, ranked fifth from the bottom, recorded 15.9 per cent.
The gap between the two ends of the ranking was 23.6 percentage points: Himachal Pradesh’s ratio was 23.6 per cent compared with 0.0 per cent for Delhi.
How should the ranking be read?
The ranking measures only pension expenditure as a share of revenue receipts. It is not an overall assessment of a state’s fiscal position. A state can rank favourably on this indicator and differently on other fiscal measures.
The tracker excludes states and UTs for which FY25 data was not available. These are Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli and Daman and Diu, Ladakh, and Lakshadweep.
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