Post on 24-Jan-2015
description
Fiscal Indicators
Union Budget
Government
Government as a separate sector Public goods Merit goods
Components of Expenditure and Revenue Government expenditure Consumption expenditure Transfer payments Subsidies Interest payments Government revenue Taxes
Instruments of Fiscal Policy
Government expenditure Taxes
Budget Document
Estimates of receipts and expenditure of government for a particular year
Revenue account and Capital account
Revenue and Capital account
Revenue account relates to current expenditure and receipts
Capital account refers to long term expenditure and receipts
Government Expenditure
Components
Non- Plan expenditure Plan expenditure Revenue expenditure Capital expenditure
Non Plan Expenditure
Revenue expenditure Interest payments Defence Subsidies Grants to States and UTs Pensions Police Assistance to States from National calamity Contingency Funds Economic Services Other general services Social services Grants to foreign governments
Non Plan Expenditure
Capital Expenditure Defence Other non-Plan capital outlay Loans to public enterprises Loans to States and UTs Loans to foreign governments Others
Trends in expenditure
0
100000
200000
300000
400000
500000
600000
1990
-91
1991
-92
1992
-93
1993
-94
1994
-95
1995
-96
1996
-97
1997
-98
1998
-99
1999
-00
2000
-01
2001
-02
2002
-03
2003
-04
2004
-05
2005
-06
2006
-07
RE
2007
-08
BE
Year
Rup
ees
cror
es
Revenue expenditure capital expenditure
Percent of total expenditure
Year Revenue expenditure
Capital expenditure
1990-91 69.82 30.18
1991-92 73.86 26.14
1992-93 75.60 24.40
1993-94 76.25 23.75
1994-95 75.97 24.03
1995-96 78.45 21.55
1996-97 79.07 20.93
1997-98 77.71 22.29
1998-99 77.49 22.51
1999-00 83.57 16.43
2000-01 85.33 14.67
2001-02 83.21 16.79
2002-03 81.96 18.04
2003-04 76.84 23.16
2004-05 77.14 22.86
2005-06 86.89 13.11
2006-07 RE 87.13 12.87
2007-08 BE 87.10 12.90
% of Revenue expenditure
Year
Defence Expenditure
Interest payments
Subsidies
1990-9114.79 29.24 16.54
1991-92 13.90 32.32 14.89
1992-93 13.06 33.52 11.68
1993-94 13.85 33.97 10.73
1994-95 13.45 36.08 9.71
1995-96 13.47 35.78 9.06
1996-97 13.21 37.42 9.75
1997-98 14.51 36.40 10.28
1998-99 13.80 35.98 10.90
1999-00 14.14 36.23 9.83
2000-01 13.40 35.75 9.66
2001-02 12.62 35.65 10.35
2002-03 12.02 34.78 12.85
2003-04 11.93 34.27 12.24
2004-05 11.41 33.03 11.96
2005-06 10.96 30.16 10.81
2006-07 RE
10.17 28.85 10.55
2007-08 BE
9.69 28.50 9.74
Year Developmental expd Non developmental expd
1990-91 54.30 45.70
1991-92 51.81 48.19
1992-93 51.94 48.06
1993-94 49.62 50.38
1994-95 50.12 49.88
1995-96 46.12 53.88
1996-97 45.63 54.37
1997-98 46.48 53.52
1998-99 47.73 52.27
1999-00 42.06 57.94
2000-01 41.38 58.62
2001-02 42.52 57.48
2002-03 43.14 56.86
2003-04 44.54 55.46
2004-05 44.98 55.02
2005-06 44.07 55.93
2006-07 RE43.62 56.38
2007-08 BE49.79 50.21
Receipts of Central Government
Revenue and Capital account
Revenue Account
Tax Revenue Direct Tax Indirect Tax Non tax Revenue Interest receipts Dividends and profits External Grants Other non – tax revenue Receipts from Union Territories
Tax Revenue
Direct Taxes Taxes on income Taxes on property Indirect Taxes Union Excise Duties Customs Duties Service Tax
Capital Receipts
Non-Debt receipts Recoveries of loans and advances Miscellaneous Capital receipts Debt receipts to finance Fiscal Deficit Market Loans Short term borrowings External assistance (net) Securities issued against small savings State provident Funds (net) Other Receipts (net) Draw-down of cash balance
Components of total receipts
0
100000
200000
300000
400000
500000
600000
700000
Year
Rup
ees
cror
es
Revenue receipts Capital receipts Total receipts
percentage of total revenue receipts
Year Tax revenue Non tax revenue
1990-91 78.21 21.79
1991-92 75.83 24.17
1992-93 72.91 27.09
1993-94 70.84 29.16
1994-95 74.06 25.94
1995-96 74.40 25.60
1996-97 74.20 25.80
1997-98 71.46 28.54
1998-99 70.01 29.99
1999-00 70.68 29.32
2000-01 70.95 29.05
2001-02 66.33 33.67
2002-03 68.68 31.32
2003-04 70.88 29.12
2004-05 73.47 26.53
2005-06 77.78 22.22
2006-07 RE 81.73 18.27
2007-08 BE 83.03 16.97
Gross Tax Revenues of the Centre
Year
Market Small Provident Special Recovery Disinvest- External
borrowings savings funds+ deposits of loans ment loans (net)
(net)# receipts
1990-91 20.52 21.31 5.13 19.79 14.65 8.16
1991-92 19.49 14.68 5.86 17.31 15.63 7.89 14.07
1992-93 10.16 12.09 8.16 19.75 17.57 5.42 14.70
1993-94 52.18 12.91 6.70 13.65 11.17 -0.09 9.15
1994-95 29.59 21.03 6.02 12.03 9.24 7.39 5.21
1995-96 58.28 17.32 8.43 9.08 11.15 0.62 0.55
1996-97 31.02 19.78 8.80 10.01 12.25 0.62 4.85
1997-98 32.80 20.65 8.50 7.98 8.40 0.92 1.10
1998-99 53.04 25.40 4.41 6.25 8.18 4.52 1.48
1999-00 53.65 7.76 5.69 5.64 8.76 1.49 1.02
2000-01 54.72 6.20 3.67 6.30 8.98 1.58 5.59
2001-02 55.88 5.39 2.57 4.97 10.09 2.24 3.45
2002-03 57.68 2.56 5.17 18.94 1.75 -6.61
2003-04 42.05 2.31 0.05 31.78 8.02 -6.38
2004-05 25.42 2.65 -2.87 30.96 2.21 7.36
2005-06 66.96 3.49 0.31 6.71 1.00 4.71
2006-07 RE 69.80 1.90 3.16 3.44 0.33 4.99
2007-08 BE71.92 6.82 3.24 0.97 1.07 5.91
Deficit
Fiscal Deficit Total expenditure – Total receipts Revenue Deficit Revenue expenditure – Revenue receipts Primary Deficit Fiscal Deficit – Interest Payments
Debt
Government borrowing to finance fiscal deficit Internal borrowing External borrowing
Components of Borrowing
Internal Borrowing
1. Market borrowing
2. Other borrowing
External Borrowing
1. Bilateral loans
2. Multilateral loans
3. Foreign private banks
Year External Finance Internal Finance
1990-91 7.1 92.9
1991-92 14.9 85.1
1992-93 13.2 86.8
1993-94 8.4 91.6
1994-95 6.2 93.8
1995-96 0.5 99.5
1996-97 4.5 95.5
1997-98 1.2 98.8
1998-99 1.7 98.3
1999-00 1.1 98.9
2000-01 6.3 93.7
2001-02 4.0 96.0
2002-03 -8.2 108.2
2003-04 -10.9 110.9
2004-05 11.7 88.3
2005-06 5.1 94.9
2006-07 RE 5.2 94.8
2007-08 BE 6.0 94.0
As a percent of GFD
Debt/GDP ratio
05
1015202530354045
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
year
per
cen
t
debt/GDP ratio