In Indiana in fiscal year 2015, 60.3 percent of total tax revenues came from sales taxes and gross receipts. Income taxes accounted for 35.6 percent of total state tax collections. Education accounted for 36.6 percent of state expenditures in fiscal year 2015, while 31.2 percent went to Medicaid.
How does Indiana make its money?
Indiana is also the 2nd largest auto manufacturing state. Indiana’s other manufactures include pharmaceuticals and medical devices, automobiles, electrical equipment, transportation equipment, chemical products, rubber, petroleum and coal products, and factory machinery.
What does Indiana spend most of its money on?
Indiana’s largest spending areas per capita were public welfare ($2,233) and elementary and secondary education ($1,724). The Census Bureau includes most Medicaid spending in public welfare but also allocates some of it to public hospitals.
How much money does Indiana make?
INDIANAPOLIS — The Indiana State Budget Committee heard testimony Thursday that the state’s revenue is $3.3 billion above forecasts for the current budget cycle. The state is projected to see reserves of $5.1 billion at the end of fiscal year 2022 and $4.1 billion in the next fiscal year.
How much money does Indiana get from the federal government?
According to the most recent Comprehensive Annual Financial Report, Indiana received roughly $12 billion in federal dollars in FY 2012 not including federal funds for universities, Indiana Finance Authority, and The Indiana Housing and Community Development Authority.
What drives Indiana’s economy?
Nearly 70% of India’s GDP is driven by domestic private consumption. The country remains the world’s sixth-largest consumer market. Apart from private consumption, India’s GDP is also fueled by government spending, investments, and exports.
Is Indiana a poor state?
Indiana has the third-lowest poverty rate in the nation, according to the U.S. Census Bureau (see Figure 1).
Is the state of Indiana in debt?
In the fiscal year of 2021, Indiana’s state debt stood at about 25.07 billion U.S. dollars.
Is Indiana broke?
Indiana only has $31.3 billion of assets available to pay bills totaling $33.2 billion. Because Indiana doesn’t have enough money to pay its bills, it has a $1.9 billion financial hole.
How much does Indiana pay in federal taxes?
Fiscal Year 2015
| Rank | State federal district or territory | Gross collections |
|---|---|---|
| 19 | Connecticut | $59,174,581,000 |
| 20 | Indiana | $57,972,825,000 |
| 21 | Wisconsin | $51,748,831,000 |
| 22 | Colorado | $47,210,720,000 |
What is the largest industry in Indiana?
In Indiana, chemical manufacturing is the largest industry, accounting for 6.1% of the state’s total GDP of $379.7 billion. The industry’s annual economic output totals $23.3 billion, a 15.6% increase over the last five years. Overall employment in the industry totals about 31,600, or 1.0% of all jobs in Indiana.
Does Indiana have a surplus of money?
Indiana has a $6.1 billion surplus.
What does Indiana produce the most of?
In Indiana agriculture, corn and soybeans are at the top of the list. These two cash crops make up approximately 60 percent of the agricultural products sold in Indiana. In a typical year, almost half of the cropland in Indiana is corn.
Which states take the most federal money?
States Most Dependent on the Federal Government
| Rank | State | Federal Share of State Revenue |
|---|---|---|
| 1 | West Virginia | 45.16% |
| 2 | New Mexico | 41.80% |
| 3 | Mississippi | 47.31% |
| 4 | Alabama | 41.20% |
Which state receives the most welfare?
The ten states that have the highest number of SNAP recipients are: California (3,789,000), Texas (3,406,000), Florida (2,847,000), New York (2,661,000), Illinois (1,770,000), Pennsylvania (1,757,000), Georgia (1,424,000), Ohio (1,383,000), North Carolina (1,298,000), and Michigan (1,180,000).
What states make the most money?
In the fiscal year of 2021, the state of California collected a total of 248.19 billion U.S. dollars in tax revenue, the highest of any state. New York collected the second highest amount of taxes in that year, coming in at 93.5 billion U.S. dollars.
Is Indian economy really growing?
The Provisional Estimates of Annual National Income in 2021-22 just released show that GDP grew 8.7% in real terms and 19.5% in nominal terms (including inflation). It makes India the fastest growing major economy in the world.
How is the Indian economy doing right now?
With a GDP of $3.1 trillion, India is the world’s sixth-largest economy. The country has one of the highest GDP growth rates in the world. India’s GDP will likely grow by 8-8.5% in FY22, according to the 2021-22 Economic Survey.
Is Indian economy doing well?
India’s fourth-quarter GDP data released Monday showed that economic growth has not come roaring back after the pandemic. It slowed down for the third consecutive quarter, growing 4.1% in the January-March period.
Is Indiana a depressing state?
May is Mental Health Awareness month. According to the National Alliance on Mental Illness, one in five adults have symptoms of a mental illness nationally.
What is America’s poorest state?
Mississippi
Mississippi. Mississippi is the poorest U.S. state, with 18.8% of its residents living in poverty. The state also has the highest child poverty rate, with 27.9% of its under-18 population meeting federal poverty guidelines.