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