- The budget consists of information about total revenue receipt of the government and its sources.
- It shows total expenditure of the government and different heads of expenditure.
- I contains information on resources transferred to states and Union Territories.
- It also tells us information about allocation for government programmes and schemes.
- It also tells us about the gap between total expenditure and total revenue receipts excluding debt creating capital receipts of the government which is technically called fiscal deficit.
- It also gives insights on sources of deficit financing and composition of important budgetary variables.
- Fiscal deficit is the difference between revenue receipts plus non debt capital receipts and the total expenditure. Fiscal deficit is reflective of the total borrowing requirements of the government.
- Revenue deficit refers to the excess of revenue expenditure over revenue receipts.
- Effective revenue deficit is the difference between revenue deficit and grants for creation of capital assets.
- Primary deficit is measured by fiscal deficit less interest payments.
Budget 2022-23
- Budget 2022-23 reflects firm commitment of the government to boost economic growth by investing in infrastructure development. This is substantiated by increase in capital expenditure by 35.4% (Rs 196010 Crore).
- In RE 2021-22, the total expenditure has been estimated at Rs 3770000 Crore and it is more than actual 2020-21 by Rs 260 164 Crore.
- The total resources transferred to states including devolution of states’ share grants/loans and releases under centrally sponsored schemes etc. BE 2022-23 is 1611781 crore, which shows an increase of 291728 crore over actual 2020-21.
Budget at a Glance
| 2020-21 Actuals (A) | 2021-22 Budget Estimates(BE) | 2021-22 Revised Estimates (RE) | 2022-23 Budget Estimates (BE) | ||
| 1. | Revenue Receipts | 1633920 | 1788424 | 2078936 | 2204422 |
| 2. Tax Revenue net to Centre)
| 1426287 | 1545396 | 1765145 | 1934771 | |
| 3. Non Tax Revenue | 207633 | 243028 | 313791 | 269651 | |
| 4. | Capital Receipts 5.Recovery of Loans 6. Other receipts 7.Borrowings and other Liabilities | 1875916 19729 37897 1818291 | 1694812 13000 175000 1506812 | 1691064 21975 78000 1591089 | 1740487 14291 65000 1661196 |
| 8. | Total Receipts (1+4) | 3509836 | 3483236 | 3770000 | 3944909 |
| 9. | Total Expenditure (10+13) | 3509836 | 3483236 | 3770000 | 3944909 |
| 10. | On Revenue Account out of which 11. Interest Payments
12. Grants in Aid for creation of capital assets
13. On Capital Account | 3083519
679869
230865
426317 | 2929000
809701
219112
554236 | 3167289
813791
237685
602711 | 3194663
940651
317643
750246
|
| 14. Effective Capital Expenditure | 657182 | 773348 | 840396 | 1067889 | |
| 15.Revenue Deficit (10-1) | 1449599 | 1140576 | 1088352 | 990241
| |
| 16. Effective Revenue Deficit (15-12) | 1218734 | 921464 | 850667 | 672598 | |
| 17. Fiscal Deficit[ 9- (1+5+6)] | 1818291 (9.2) | 1506812 (6.8) | 1591089 (6.9) | 1661196 (6.4)
| |
| 18. Primary Deficit (17-11) | 1138422 (5.8) | 697111 (3.1) | 777298 (3.3) | 720545 (2.8) |
Borrowings and other Liabilities includes drawdown of Cash Balance
Explanation
- RE 2021-22 for Capital Expenditure includes capital infusion/loans to AIAHL/AI for settlement of past guaranteed and sundry liabilities, not
- backed by assets amounting to `51971 crore. Excluding this, capital expenditure in RE is estimated `550740 crore.
- Grants for creations of capital assets also includes allocations under Demand driven/entitlement based scheme MGNREGS, which would vary based on demand.
Notes: (i) GDP for BE 2022-2023 has been projected at `25800000 crore assuming 11.1% growth over the estimated GDP of `23214703 crore
for 2021-2022 (RE).
(ii) Individual items in this document may not sum up to the totals due to rounding off
(iii) Figures in parenthesis are as a percentage of GDP.