BUDGET: 2023-24

TABLE 1: BUDGET AT A GLANCE

(Rs. in crore)

2021-22
2022-23 2022-23 2023-24
Items (Pre-
(BE) RE (BE)
Actuals)
A. Revenue Receipts 63084 102322 97132 106061

B. Revenue Expenditure 59269 71615 75004 77009

Revenue Surplus (A-B) 3815 30707 22128 29052

C. Capital Receipts 11494 10628 9657 12439

D. Capital Expenditure 15309 41335 31785 41491

Capital A/C Deficit

-3815 -30707 -22128 -29052
(C-D)

E. Total Expenditure 74578 112950 106789 118500

F. Total Receipts 74578 112950 106789 118500

G. Fiscal Deficit 12219 9570 9570 12012

Unfunded/Additional
H. 0 0 0 0
resources required

‘- ’sign indicates deficit

1
 RUPEE: AS IT COMES
(2023-24)

Graph: 1

Borrowings Own Taxes

10% 17% Centrally Sponsored

Schemes

32% 16%

Central Grants 11%

7% 7%
Own Non-Tax

PMDP ARM/Asset
Monetization

RUPEE: AS IT GOES
(2023-24)
Graph: 2

Others
18% Salaries
28%

Capital Exp
35%
Pensions
11%

Interest
8%

2
 ECONOMIC GROWTH
GDP at current prices

Graph: 3 (Rs. in crore)

250000
230727
209752
195118
200000
170201
159859 164135
150000 139659 14.6
124848 14.5
117168 10.0
98367
100000 19.1
11.9 7.5

50000 6.6
3.7
2.9 2.7
0
2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
(1R) (Proj)

(Growth % in brackets calculated on base year 2011-12), Proj = Projected

TAXES & REVENUES – INCIDENCE & EFFICIENCY

Graph: 4 Own Revenues % GDP

10.00

9.00
8.82
7.97 7.77
8.00

6.74 6.70
7.00
6.44 6.31
6.00 6.15
6.09 6.19
6.17
5.77
5.00 5.22

4.00

3.00

Tax/GDP

3
 TABLE 2 BUDGET:BASIC DETAILS

(Rs. in crore)

2021-22
2022-23 2022-23 2023-24
Items (Pre-
(BE) (RE) (BE)
Actuals)
Revenue Receipts 63084 102322 97132 106061
(i+ii+iii+iv)
i. Own Tax Revenue 15552 16666 16303 20349
ii. Non-Tax Revenue 4841 8648 9225 13593
iii. Resources from Centre 42691 68206 69120 64319
iv. Additional Resource Mobilization - 8802 2484 7800
(ARM)/Channelizing resources into system
pool (CRISP)/Asset Monetization
Total Revenue Expenditure of which 59269 71615 75004 77009
Interest payments 7405 7427 9076 9635
CSS 2008 3319 3416 3654
Total Capital Receipts 11494 10628 9657 12439
i. Borrowings 12814 9158 9158 11633
ii. Other liabilities of which Provident Fund -595 412 412 379
(Net)
iii. Misc. Non-debt creating -725 1053 82 422
iv. Recovery of Loans and Advances 0.16 5 5 5
Total Capital Expenditure 15309 41335 31785 41491
i. Capital Expenditure including PMDP 11901 22904 20515 26259
of which : Repayments 4188 3521 5030 8099
ii. CSS 3404 18431 11270 15232
Total Expenditure 74578 112950 106789 118500
i. Revenue Expenditure 59269 71615 75004 77009
ii. Capital Expenditure 11901 22904 20515 26259
iii. CSS Capex 3408 18431 11270 15232
Total Receipts 74578 112950 106789 118500
i. Revenue Receipts 63084 102322 97132 106061
ii. Capital Receipts* 11494 10628 9657 12439
Revenue Surplus 3815 30707 22128 29052
Unfunded/Additional Resources Required 0 0 0 0
Fiscal Deficit 12219 9570 9570 12012

* Capital Receipt and Expenditure excludes ways and means advance of Rs. 26000 crore in RE 2022-23
and ways and means advance of Rs 30000 crore in BE 2023-24.

4
 TABLE 3: REVENUE RECEIPTS
(Rs. in crore)
2021-22 2022-23 2022-23 2023-24
Items
(Pre-Actuals) (BE) (RE) (BE)
Revenue Receipts (I+II) 63084 102322 97132 106061
I. Total Grants from Centre 42691 68206 69120 64319
i. Resources from Centre 42691 68206 69120 64319
II. Own Revenues 20393 34116 28012 41742
(1+2+3)
1. Own Tax Revenues 15552 16666 16303 20349

a. GST 10239 10600 10600 13174

b.Sales Tax 1906 1800 1800 1800
c. Excise Duty & Tax on Goods 1789 1905 1918 2450
d. Others 1618 2361 1985 2925
2. Non-Tax Revenues, of which 4841 8648 9225 13593
Interest Receipts 17 2 1 0.43
Power Receipts 2716 5000 4609 6000
3. Additional Resource - 8802 2484 7800
Mobilization
(ARM)/Channelization of
resources into system pool
(CRISP)/Asset Monetization

TABLE 4: REVENUE RECEIPTS AND EXPENDITURE: COMPOSITION

(Rs. in crore)
2021-22
2022-23 2022-23 2023-24
Items (Pre-
(BE) (RE) (BE)
Actuals)
A. Revenue Expenditure of which: 59269 71615 75004 77009
i. Interest 7405 7427 9076 9635
ii. Power Purchase* 1945 5000 3074 3040
iii. Maintenance/Repairs/Material & 767 861 1034 1112
Supplies
iv. Grant in Aid 4807 4287 4841 4872
v. CSS 2008 3319 3416 3654
B. Primary Revenue Expenditure, of 51864 64188 65928 67374
which:
i. Salaries 26079 32495 31592 33530
ii. Pension 11563 9780 13126 12525
iii. Others 4695 8446 8845 8641

* Power Purchase cost in 2021-22 has been less due to clearance of Rs 14162.257 crore past liability on
account of power purchase through loan scheme for Discoms to offset the liabilities of Generation
Companies.

5
 TABLE 5: CAPITAL RECEIPTS

(Rs. in crore)

2021-22 2022-23 2022-23 2023-24

Items
(Pre-Actuals) (BE) (RE) (BE)

Capital Receipts 11494 10628 9657 12439

1. Negotiated loans 535 1505 1505 1505
2. Market Borrowings 12279 7653 7653 10128
3. Misc. Non-debt creating -725 1053 82 422
4. Recovery of Loans and Advances 0.16 5 5 5
5. Provident Fund (Net) -595 412 412 379

TABLE 6: CAPITAL EXPENDITURE

(Rs. in crore)

2021-22
2022-23 2022-23 2023-24
Items (Pre-
(BE) (RE) (BE)
Actuals)

Capital Expenditure of 15309 41335 31785 41491

which:
i. UT/District/PMDP 7641 19074 15267 17961
(Tameir) Capex
ii. Loans & Advances 72 109 118 99
iii. Repayment of Debt 4188 3521 5030 8099
iv. Equity & Investment - 200 100 100
v. CSS 3408 18431 11270 15232
Deficit/Surplus on Capital -3815 -30707 -22128 -29052
Account

*Expenditure under (i) includes ULB/PRIs Grants for the year 2021-22.

6
 CAPITAL RECEIPTS V/S CAPITAL EXPENDITURE

Graph: 5 (Rs. in crore)

50000

45000
41491

40000 Capital Receipts

35000 Capital Expenditure 31785

30000

25000

20000
15939
14923
15000 13621 12411 15309 12439
10385 11114 14784 11494
9330
10000 6743 8219 12065
5318 5723 9970 9657
5000 6352
5653 6025
4218
0
12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21 21-22 22-23 22-24
RE BE

REVENUE EXPENDITURE PER UNIT OF CAPEX

Graph: 6

6.0
5.6 5.0
4.7 4.8
5.0 4.7
4.4

4.0 3.9
3.9 3.6
Ratio

3.2
3.0

2.0 2.4
1.9
1.0
2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
RE BE
Year

7
 REVENUE SURPLUS AVAILABLE FOR CAPITAL EXPENDITURE

Graph: 7 (Rs. in crore)

39000
36000
33000
29052
30000
27000
24000 22128
21000
18000
15000
12000
9000 7595
6000 3815
3000 2166
2103 1100
0 70
-390 -346 -139
-3000 -640

-6000 -4825
-9000
11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21 21-22 22-23 23-24
RE BE

GROWTH IN OWN REVENUES

(TAX +NON-TAX)
Graph: 8 (Rs. in crore)

40000

35000 33942

30000
25528
25000
20393
20000 17985

15000 13898 14014 12953

11981
11239
10000 9143 8312
7993
6747

5000

0
11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 19-20 20-21 21-22 22-23 23-24
RE BE

8
 TABLE 7: FLOW FROM CENTRE
(2022-23 & 2023-24)
(Rs. in crore)
2022-23 2022-23 2023-24
(BE) (RE) (BE)

(A) Entitled Grants 38456 46890 37533

i. Revenue Deficit Grants 35302 44417 35302
(Transfer of Assistance to
UTs under MHA Demand)
ii. DRF 279 279 279
iii. SRE 2500 2100 1700
iv. Other Central Schemes 375 94 252
(B) Other Grants 29750 22230 26786
i. Prime Ministers 8000 7544 7900
Development Programme
(TAMEIR)
ii. CSS 21750 14686 18886
Total (A+B) 68206 69120 64319

* ULB/PRI Grants are part of Central Assistance to UT (i) totaling Rs 35302 crore under
MHA Grant for the financial year 2023-24.

9
 RATE OF INVESTMENT

Graph: 9 Capex as % GDP

20.00
17.98
18.00
16.00 15.15

14.00
12.00
9.75
10.00 8.64 8.99 7.85
8.32
6.95 7.35
8.00 6.46
6.00 5.66
4.01
4.00
2.00
0.00 0.00

UTILISATION OF FISCAL DEFICIT

Graph: 10 Capex as % of Fiscal Deficit

800.00

700.00

600.00

490.32
500.00

400.00
332.14 345.41

300.00

200.00 166.05
155.67 167.58 116.68
125.29
100.00 145.78 137.09
113.11
83.55
0.00

10
 EXPENDITURE TREND

Graph: 11 (Rs in Crore)

140000

118500
120000
106789
100000

80000 74578
67418
67008 65029
60000 54537
50197
45750
35681
40000

20000

0
2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24
RE BE

TAX REVENUE : TRENDS

Graph: 12 (Rs in Crore)

25000

Other (cr)
20000
VAT/GST (cr)
5375
15000
3407 3903

10000 14974
2432 2657 3086
2542
1807
2003 12145 12400
5000 738 843 1031
637 7104 7169 6381 6335
5185 6012
3413 4174 4579 4620
0

11
 FINANCING OF CAPITAL EXPENDITURE

Graph: 13 (Rs in Crore)

50000

Borrowing
45000

Revenue Surplus
40000

35000 12012

30000

9570
25000

20000

15000 29052

6900 22128
10000 12219

7915
5000 10679 10794
9113
7595
5654
2834 3815
2166
0 -4825 -346 -139
-390 -640

-5000

-10000

12
 TABLE 8: SECTOR-WISE REVENUE EXPENDITURE

(Rs. in Crore)
%
Increase
Budget Revised Budget from
Demand
Department Estimates Estimates Estimates 2022-23
No.
2022-23 2022-23 2023-24 RE to
2023-24
BE
01 Administrative Sector
01 General Administration 590.76 525.86 560.86 6.66
02 Home 9588.37 9764.67 10314.22 5.63
04 Information 131.95 120.51 122.05 1.28
09 Parliamentary Affairs 58.69 34.80 59.59 71.24
10 Law 718.50 777.28 932.58 19.98
14 Revenue 906.72 838.77 830.54 -0.98
24 Hospitality and Protocol 226.55 229.70 239.37 4.21
33 Disaster Management, Relief and 994.11 1027.58 1009.82 -1.73
Rehabilitation
Total Administrative Sector 13215.65 13319.17 14069.03 5.63
02 Social Sector
07 Education 10888.37 11017.35 12000.18 8.92

15 Food, Civil Supplies and 318.26 229.56 236.21 2.90

Consumer Affairs
17 Health and Medical Education 6388.63 6598.16 6264.75 -5.05
18 Social Welfare 3004.64 2960.10 3538.72 19.55
Stationery and Printing/Labour and
25 108.50 107.37 111.13 3.50
Employment
27 Higher Education 1482.66 1453.84 1540.68 5.97
30 Tribal Affairs 135.10 132.30 121.91 -7.85
31 Culture 67.35 79.49 97.38 22.51

34 Youth Services and Technical 666.87 651.66 669.48 2.73

Education
Total Social Sector 23060.38 23229.83 24580.44 5.81
03 Infrastructure Sector
06 Power Development 6310.51 4404.50 4388.24 -0.37
16 Public Works 1078.70 1202.76 1327.60 10.38
19 Housing and Urban 1137.00 1330.06 1297.51 -2.45
Development
22 Irrigation and Flood Control 810.29 692.25 717.58 3.66
23 Public Health Engineering 1805.63 1936.27 1838.12 -5.07
35 Science and Technology 21.03 20.64 13.02 -36.92
Total Infrastructure Sector 11163.16 9586.48 9582.07 -0.05
04 Economic Sector
5 Mining 0.00 0.00 78.35 -
11 Industries and Commerce 447.18 431.71 347.44 -19.52
12 Agriculture Production 1339.36 1274.44 1308.00 2.63
13 Animal/Sheep Husbandry 722.21 675.66 669.08 -0.97
13
 20 Tourism 228.85 217.29 215.00 -1.05
21 Forest 1688.43 1549.51 1568.52 1.23
26 Fisheries 119.04 110.71 111.57 0.78
28 Rural Development 815.32 750.59 748.34 -0.30
29 Transport 117.32 104.91 107.39 2.36
32 Horticulture 192.93 156.72 161.52 3.06
36 Cooperative 85.08 176.33 71.20 -59.62
Total Economic Sector 5755.72 5447.87 5386.41 -1.13
05 Finance Sector

03 Planning Development and 154.67 132.54 134.80 1.71

Monitoring
08 Finance 18265.38 23288.05 23256.01 -0.14
Total Finance Sector 18420.05 23420.59 23390.81 -0.13
Overall Total 71614.96 75003.94 77008.76 2.67

‘-’ sign indicates decrease

14
 SECTOR WISE REVENUE EXPENDITURE

Graph: 14

Administrative Sector (Total Revenue Budget Rs 14069 crore)

1.70% 7.18%
5.90% 3.99%
6.63%

0.87% General Administration

0.42% Home

Information

Parliamentary Affairs
73.31%
Law

Revenue

Hospitality and Protocol

Disaster Management, Relief and

Rehabilitation

Graph: 15

Social Sector (Total Revenue Budget Rs 24580 crore)

Education
0.50% 0.40%
2.72% Food, Civil Supplies and Consumer
6.27% Affairs
0.45%
Health and Medical Education

14.40% Social Welfare

48.82%
Stationery and Printing/Labour and
Employment
25.49% Higher Education

Tribal Affairs

Culture
0.96%
Youth Services and Technical
Education

15
Graph: 16

Infrastructure Sector (Total Revenue Budget Rs 32973 crore)

0.41 4.03

13.31 3.94
2.18
Power Development

Public Works
70.53 5.57
Housing and Urban Development

0.04 Irrigation and Flood Control

Public Health Engineering

Science and Technology

Finance

Planning Monitoring and Development

Graph: 17

Economic Sector (Total Revenue Budget Rs 5386 crore)

1.32%
3.00% 1.45% 6.45%
1.99%
Mining
2.07% 13.89% Industries and Commerce
24.28% Agriculture Production
Animal/Sheep Husbandry
Tourism
29.12% 12.42% Forest
Fisheries
Rural Development
Transport
Horticulture
3.99%
Cooperative

16
 TABLE 9: SECTOR-WISE CAPITAL EXPENDITURE

(Rs in crore)

% Increase
Budget Revised Budget
from 2022-23
Demand No. Department Estimates Estimates Estimates
RE to 2023-24
2022-23 2022-23 2023-24
BE

01 Administrative Sector
01 General Administration 206.59 121.71 163.41 34.26
02 Home 1242.82 662.69 799.61 20.66
04 Information 100.48 50.48 100.48 99.05
09 Parliamentary Affairs 4.00 0.00 4.00 -
10 Law 122.00 122.00 192.00 57.38
14 Revenue 93.50 46.85 59.50 27.00
24 Hospitality and Protocol 51.00 51.21 72.00 40.60
Disaster Management, Relief 566.62 145.00 410.67 183.22
33 and Rehabilitation

Total Administrative Sector 2387.01 1199.94 1801.67 50.15

02 Social Sector
07 Education 944.41 598.51 792.12 32.35
Food, Civil Supplies & 306.26 369.38 390.87 5.82
15 Consumer Affairs
17 Health and Medical Education 1484.72 1882.56 2097.53 11.42
18 Social Welfare 198.07 123.69 98.92 -20.03

Stationery and
25 Printing/Labour & 67.58 44.71 69.00 54.33
Employment
27 Higher Education 862.25 729.75 729.75 0.00
30 Tribal Affairs 282.23 432.79 446.76 3.23
31 Culture 325.82 124.13 170.07 37.01

34 Youth Services and Technical 244.99 265.84 227.63 -14.37

Education
Total Social Sector 4716.33 4571.36 5022.65 9.87
03 Infrastructure Sector
06 Power Development 2457.58 2075.03 1964.90 -5.31
16 Public Works 5217.87 3963.88 4062.87 2.50
Housing and Urban 3112.88 2253.26 2928.04 29.95
19 Development
22 Irrigation and Flood Control 1237.69 1409.99 1310.50 -7.06
23 Public Health Engineering 8051.46 2530.49 5850.00 131.18
35 Science and Technology 127.91 72.85 109.85 50.79
Total Infrastructure Sector 20205.39 12305.50 16226.16 31.86

17
04 Economic Sector
05 Mining 0.00 0.00 12.20 -
11 Industries and Commerce 555.80 458.39 741.79 61.83
12 Agriculture Production 1496.04 788.31 1953.95 147.87
13 Animal/Sheep Husbandry 266.10 243.86 476.44 95.37
20 Tourism 278.95 278.95 287.32 3.00
21 Forest 200.76 139.23 207.75 49.21
26 Fisheries 125.80 118.00 153.26 29.88
28 Rural Development 4627.85 4413.75 4169.26 -5.54
29 Transport 65.50 45.00 54.39 20.87
32 Horticulture 454.00 498.98 572.79 14.79
36 Cooperative 15.00 15.00 25.00 66.67
Total Economic Sector 8085.80 6999.47 8654.15 23.64
5 Finance Sector
Planning Development and
974.92 870.65 786.57 -9.66
3 Monitoring
8 Finance 4965.67 5838.03 9000.04 54.16
Total Finance Sector 5940.59 6708.68 9786.61 45.88

Overall Total 41335.12 31784.95 41491.24 30.54

18
 SECTOR WISE CAPITAL EXPENDITURE

Graph: 18

Administrative Sector (Total Capital Budget Rs 1802 crore)

22.79%
9.07%
General Administration

Home
4.00%
Information

3.30% 44.38% Parliamentary Affairs

Law
10.66%
0.22% Revenue

Hospitality and Protocol

5.58% Disaster Management, Relief and

Rehabilitation

Graph: 19

Social Sector (Total Capital Budget Rs 5023 crore)

4.53%
3.39% 15.77% 7.78% Education

8.89% Food, Civil Supplies and Consumer

Affairs
Health and Medical Education

14.53% Social Welfare

Stationery and Printing/Labour &

Employment
1.37% Higher Education

1.97% Tribal Affairs

Culture

41.76% Youth Services and Technical Education

19
Graph: 20

Infrastructure Sector (Total Capital Budget Rs 26013 crore)

7.55% 15.62%
3.02%
34.60%

Power Development
11.26%
Public Works

Housing and Urban Development

Irrigation and Flood Control

Public Health Engineering

5.04% Science and Technology

Finance
22.49%
0.42% Planning Monitoring and Development

Graph: 21

Economic Sector (Total Capital Budget Rs 8654 crore)

6.62% 0.29% 0.14% 8.57%

0.63%

22.58%
Mining

Industries and Commerce

Agriculture Production

Animal/Sheep Husbandry

Tourism

Forest
48.18%
Fisheries
5.51%
Rural Development
3.32% Transport
1.77%
2.40% Horticulture

Cooperative

20
 DEPARTMENT WISE OVERALL CAPITAL EXPENDITURE (%)

Administrative and Social Sector:

Graph: 22

General Revenue, 0.14

Youth Services and Administration, 0.39
Technical Education,
0.55 Information, 0.24
Tribal Affairs, 1.08

Parliamentary
Higher Education, Affairs, 0.01
1.76 Culture , 0.41
Law,
Stationery and 0.46
Printing/Labour Home, 1.93 Hospitality
& Employment, and
0.17 Protocol,
0.17

Education, 1.91

Health and Medical

Education, 5.06

Disaster
Social Welfare, 0.24 Management, Relief
and Rehabilitation,
Food, Civil Supplies 0.99
and Consumer
Affairs, 0.94

21
 DEPARTMENT WISE OVERALL REVENUE EXPENDITURE (%)

Administrative and Social Sector:

Graph: 23

Culture , 0.13

Youth Services and

Technical Education,
Tribal Affairs, 0.16
0.87
Higher General
Stationery and Administration, 0.73
Education,
Printing/Labour &
2.00
Employment, 0.14
Social Welfare, 4.60

Home, 13.39

Health and Medical Information

Education, 8.14 , 0.16

Food, Civil Supplies Education, 15.58

and Consumer
Affairs, 0.31 Parliamentary
Affairs, 0.08
Law, 1.21

Disaster
Management, Relief
and Rehabilitation,
1.31
Revenue, 1.08

Hospitality and
Protocol, 0.31

22
DEPARTMENT WISE OVERALL CAPITAL EXPENDITURE (%)

Infrastructure and Economic/Finance Sector:

Graph: 24

Fisheries, 0.37
Forest, 0.50 Cooperative, 0.06
Horticulture, 1.38
Tourism, 0.69 Power Development,
Animal/Sheep Transport, 0.13 4.74
Husbandry, 1.15
Agriculture Rural Housing and
Production, 4.71 Development, Urban
10.05 Public Works, 9.79
Development,
Industries and
7.06
Commerce, 1.79
Mining,
0.03

Public Health
Engineering, 14.10
Finance, 21.69

Planning
Development
Irrigation and Flood
and Monitoring,
1.90 Control, 3.16
Science and
Technology, 0.26

23
 DEPARTMENT WISE OVERALL REVENUE EXPENDITURE (%)

Infrastructure and Economic/Finance Sector:

Graph: 25

Tourism, 0.28
Fisheries, 0.14

Animal/Sheep
Agriculture Husbandry, 0.87
Production, 1.70 Rural Development,
0.97
Public Works, 1.72
Transport, 0.14
Forest, Horticulture, 0.21 Housing and Urban
Industries and
2.04 Cooperative, 0.09 Development, 1.68
Commerce, 0.45
Mining , 0.10 Irrigation and
Power Flood Control,
Development , 0.93
Planning 5.70
Development and
Monitoring, 0.18 Public
Health
Engineering,
2.39

Science and
Technology, 0.02
Finance, 30.20

24
 SECTORAL INVESTMENT CONTRIBUTION TO GDP

Graph: 26 (Rs in Crore)

30000
26013
25000

20000

15000

10000 8654

5023
5000
1802

0
Administrative Sector Social Sector Infrastructure Sector Economic Sector

Graph: 27 %

0.78

3.75 2.18

Administrative Sector
Social Sector
Infrastructure Sector

11.27 Economic Sector

25
MAJOR DEPARTMENT WISE INVESTMENT CONTRIBUTION TO GDP

Graph: 28
%
Cooperative, 0.01
Health and Medical
Education, 0.91

Fisheries, 0.07 Social Welfare, 0.04

Horticulture, 0.25 Food, Civil Supplies
Tourism, 0.12 and Consumer Higher Education,
Forest, Transport, 0.02 Affairs, 0.17 0.32
0.09 Education, 0.34 Tribal Affairs, 0.19
Youth Services and
Animal/Sheep Rural Home, Technical Education,
Husbandry, 0.21 Development, 0.35 0.10
1.81 Culture , 0.07
Agriculture
Production, 0.85
Power
Industries and
Development, 0.85
Commerce, 0.32

Mining,
0.01 Public Works, 1.76

Finance, 3.90

Public Health
Engineering, 2.54
Housing and
Urban
Development,
1.27
Irrigation and Flood
Science and Control, 0.57
Technology, 0.05

26
 INCREASING TREND IN CAPITAL EXPENDITURE
(RE 2022-23 to BE 2023-24)

Graph 29 %

200.00
183.22
180.00

160.00
147.87
140.00 131.18

120.00
99.05
100.00 95.37

80.00
66.67
61.83
57.38 54.33 49.21
60.00 37.01 50.79
32.35
40.00 29.95 29.88
27.00
20.66 20.87
11.42 14.79
20.00
3.00 3.23 2.50
0.00

27
 TABLE 10: DEBT POSITION IN THE PAST 12 YEARS

(Rs in crore)
Year Internal Loans & Total Insurance Provi- Other Total GDP % of total
Debt Advances Public and dent Obliga- Liabili- at liability to
from Debt Pension Funds tions* ties current GDP
Central Funds prices
Govt.
Base Year 2004-05

2010-11 *16535 2032 18567 358 6291 4756 29972 58073 52

Base Year 2011-12

2011-12 20789 1903 22692 384 8335 4845 36256 77945 47
2012-13 22796 1839 24635 454 9954 5205 40248 86537 47
2013-14 24715 1775 26490 505 11893 5758 44646 97400 46
2014-15 26525 1675 28200 602 14028 5484 48314 98367 49
2015-16 30452 1579 32031 671 16846 5798 55346 117168 47
2016-17 34018 1489 35507 775 18588 5803 60673 124848 49
2017-18 37418 1405 38823 909 20010 8462 68204 139659 49
2018-19 42222 1292 43514 974 25233 9340 79061 159859 49
2019-20 45465 1237 46702 1006 26156 9709 83573 164135 51
2020-21 52469 1302 53771 1085 27222 10875 92953 170201 55
2021-22 61212 1183 62395 1191 26521 11355 101462 195118 52
*Excluding debt of Rs. 1300 crore for reduction of overdraft.

DEBT/GDP RATIO

Graph: 30 Debt as % of GDP

56
55
54
52
52 52
49 49 49
50 47 51 49
49
48 47 47
46
46
44
42
40

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 BUDGET: VARIOUS COMPONENTS

The Budget comprises of three parts:

1. Consolidated Fund
2. Public Account
3. Contingency Fund

The Consolidated Fund is the source for all the “usual” budgetary transactions
whether of capital, revenue or loan nature. Tax and Non-Tax revenues are entered into the
Consolidated Fund and any expenditure which are to be met from the Consolidated Fund must
be voted by the Legislature. Expenditures of ‘Charged’ nature are also met out of the
Consolidated Fund.

The Consolidated Fund itself comprises of two parts:

a) the revenue account ; and

b) the capital account.

The revenue account comprises expenditures incurred in connection with the routine
administration such as salaries, wages, maintenance and repairs, telephone expenses, day to
day office running expenses and other overheads. Expenditures relating to the creation of
assets which includes most (but not all) of Plan expenditure is covered in the Capital account.

Revenue receipts are all those incomes which do not incur repayment liability. These
include, in addition to the own revenues, grants from the Central Government for the
financing of Plans, as well as revenue grants.

Capital receipts include internal debt, loans from the Center and recovery of its own
loans advanced to Corporations, Co-operative Societies, etc., and are entered in the capital
account. On the outlay side of the capital account, there are expenditures corresponding to
own investment outlay and disbursements, which comprise of repayment of public debt and
the loans and advances made to the various entities. Thus, both the capital and debt portions
of the Consolidated Fund are under the Capital budget.

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 The Public Account includes those funds which do not belong to the Government but
which it holds in trust for other entities. This would include such items as accumulations of
the employees’ provident fund, reserve and depreciation funds, deposits from Municipal
Corporations, pension fund etc. It could rightly be characterized as the fund for which the acts
as “banker”.

The Contingency Fund, as its name implies, is a fund for emergency use. It is
included in the Budget to cover generally the decretal amounts and other unforeseen emergent
expenditures. Expenditure from the Contingency Fund can be made with Cabinet consensus
alone and hence have the advantage that the budgetary procedure - involving legislative
approval - is circumvented; albeit the seal of Legislature subsequently to the expenditure thus
incurred is a must. The monetary ceiling of Contingency Fund is raised every few years
through the budgetary process.

DEFINITIONS:-
1. Revenue Receipts are all those receipts, which do not incur repayment liability. These
includeown revenues (Tax and Non-Tax), share in central taxes, statutory and non-
statutory grants from the Central Government. These also include interest and
dividend on investments made by the Government.

2. Revenue Expenditure covers all the routine administrative expenditure, such as

salaries and wages, pension, interest payments, maintenance and repairs. Also,
overheads like payment of rent, taxes and other establishment expenditure.

3. Capital Receipts include loans raised by the from the market, borrowings from RBI
and other institutions, loans from the Centre, receipts from special securities issued to
NSSF and the recovery of its own loans and proceeds from disinvestment of
Government’s stake in Public Sector Undertakings.

4. Capital Expenditure relates to the creation of assets. This corresponds to the

investment outlay on the acquisition of permanent assets like land, buildings, plant
&machinery and all other physical infrastructure. Disbursements, which comprised of
repayment of public debt and loans and advances made to the various entities, are also
taken as Capital Expenditure.

5. Miscellaneous Capital Receipts (MCR) are treated as Non Debt Capital Receipts.

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6. Primary Deficit is Fiscal Deficit net of ‘Interest Payments and Debt Servicing’ under
Revenue Component.

7. Revenue Deficit is the difference between Revenue expenditure and Revenue

Receipts.

8. Budget Deficit is the difference between total expenditure and total receipts and has to
be zero in the absence of monetization. Governments have no access to the
monetization route and as such Budget Deficit in their case ought to be zero.

9. Fiscal Deficit is the difference between total expenditure and revenue receipts,
recovery of loans & advances and other non-debt capital receipts.

10. Finance Bill consists the Government’s proposals for the imposition of new taxes,
modification of the existing tax structure or continuance of the existing tax structure
beyond the period approved by the legislature.

31