Maharashtra, which has the single largest share in national GDP at close to 16 per cent and the state worst hit by the pandemic, has fallen into the worst debt trap with fiscal deficit hitting the highest since 2005-06 at 3.3 per cent, up over 175 per cent, according to a report.

In line with higher-than-budgeted deficit ratios, the state's debt-to-GSDP ratio has jumped to 20.2 per cent in 2020-21, up from 16 per cent in 2019-20, and the 2020-21 Budget Estimate of 16.2 per cent, India Ratings said in the report quoting revised budget estimates for FY21.