Foreword |
List of Abbreviations |
Chapter I : Overview |
1. |
Introduction |
2. |
Preview |
Chapter II : Policy Initiatives |
1. |
Introduction |
2. |
State Governments |
3. |
Government of India |
4. |
Reserve Bank of India |
5. |
Conclusion |
Chapter III: Consolidated Fiscal Position of State Governments |
1. |
Introduction |
2. |
Accounts: 2007-08 |
3. |
Revised Estimates: 2008-09 |
4. |
Budget Estimates: 2009-10 |
5. |
Assessment |
6. |
Conclusion |
Chapter IV: State-Wise Analysis of Fiscal Performance |
1. |
Introduction |
2. |
Deficit Indicators of the State Governments |
3. |
Revenue Account of the State Governments |
4. |
Expenditure Pattern of the State Governments |
5. |
Conclusion |
Chapter V: Outstanding Liabilities, Market Borrowings and Contingent Liabilities of State Governments |
1. |
Introduction |
2. |
Outstanding Liabilities |
3. |
State-wise Debt Position |
|
4. |
|
|
5. |
Liquidity Position and Cash Management |
|
6. |
Contingent Liabilities |
|
7. |
Assessment of Debt Position of State Governments |
|
8. |
Investment of Cash Balances |
|
9. |
Debt Consolidation and Relief |
|
10. |
Conclusion |
Chapter VI: Expenditure of State Governments : Trend and Composition |
|
1. |
Introduction |
|
2. |
Overall Trend |
|
3. |
Revenue Expenditure |
|
4. |
Capital Expenditure |
|
5. |
State-wise Analysis of Expenditure |
|
6. |
Conclusion |
Chapter VII: Issues and Perspectives |
|
1. |
Introduction |
|
2. |
Revenue Augmentation |
|
3. |
Quality of Expenditure |
|
4. |
Strengthening of Rule Based Framework |
|
5. |
Fiscal Transparency |
|
6. |
Surplus Cash Balances |
|
7. |
Impact of slowdown on State Finances and Fiscal Stimulus Programmes |
|
8. |
Implementation of Sixth Central / State’s Own Pay Commission |
ANNEX 1 |
1. |
Major Policy Initiatives of State Budgets 2009-10 |
Explanatory Note on Data Sources and Methodology |
LIST OF BOXES |
II.1 |
Climate Change and Initiatives at the State Level |
III.1 |
Role of Automatic Fiscal Stabilisers at the State level |
III.2 |
Fiscal Stimulus measures at the Sub-National level: A Cross-Country Perspective |
III.3 |
Fiscal Stimulus Measures at State Government Level in India |
III.4 |
Goods and Services Tax in India – The present Status |
III.5 |
Implementation of Sixth Central Pay Commission (CPC)/States' Pay Commissions (SPCs)
Recommendations and State Governments' Finances |
IV.1 |
Fiscal Transparency in the State Budgets |
V.1 |
Surplus Cash Balance of the State Governments: Issues and Challenges |
VI.1 |
Convergence in the composition of Major Categories of Expenditures across States |
LIST OF TABLES |
II.1 |
Institutional Reforms by State Governments |
III.1 |
Major Deficit Indicators of State Governments |
III.2 |
Variation in Major Items – 2007-08 (Accounts) over 2007-08 (RE) |
III.3 |
Variation in Major Items – 2008-09 (RE) over 2008-09 (BE) |
III.4 |
Variation in Major Items – 2009-10 (BE) over 2008-09 (RE) |
III.5 |
Aggregate Receipts of State Governments |
III.6 |
Cost Recovery of Select Services |
III.7 |
Expenditure Pattern of State Governments |
III.8 |
Development Expenditure vis-a-vis Total Expenditure |
III.9 |
Trend in Aggregate Social Sector Expenditure of State Governments |
III.10 |
Trend in Composition of Social Sector Expenditure |
III.11 |
Expenditure on Social Services (Revenue and Capital Accounts) - Composition |
III.12 |
Administrative Expenditure of State Governments – Wages and Salaries and
Operations and Maintenance |
III.13 |
Trends in Major Deficit Indicators of State Governments |
III.14 |
State-wise Correction of RD and GFD – 2009-10 (BE) over 2008-09 (RE) |
III.15 |
Decomposition and Financing Pattern of Gross Fiscal Deficit – 2007-08 (Accounts)
to 2009-10 (BE) |
III.16 |
Budgetary Data Variation – State Budgets and Union Budget |
III.17 |
Financing of Gross Fiscal Deficit (GFD) – 2009-10 (Adjusted) |
IV.1 |
Deficit Indicators of State Governments |
IV.2 |
Revenue Receipts of the State Governments |
IV.3 |
Revenue Expenditure of the State Governments |
IV.4 |
Expenditure Pattern of State Governments |
V.1 |
Outstanding Liabilities of State Governments (As at end-March) |
V.2 |
Composition of Outstanding Liabilities of State Governments (As at end-March) |
V.3 |
Debt Indicators of State Governments |
V.4 |
Interest Rate Profile of the Outstanding Stock of State Government Securities (As at end-March) |
V.5 |
Market Borrowings of State Governments |
V.6 |
Weighted Average Yield of State Government Securities |
V.7 |
Normal WMA Limits - 1996 to 2009 |
V.8 |
Outstanding Guarantees of State Governments |
V.9 |
Average Interest Rate on Outstanding Liabilities of State Governments |
V.10 |
Maturity Profile of Outstanding State Government Securities (As at end-March 2009) |
V.11 |
Maturity Profile of Outstanding State Loans and Power Bonds (As at end-March 2009) |
VI.1 |
Trend in Expenditure of the State Governments |
VI.2 |
Composition of Aggregate Expenditure of the State Governments |
VI.3 |
Composition of Revenue Expenditure |
VI.4 |
Committed Expenditure and its Composition |
VI.5 |
Trend in Interest Payments of State Governments |
VI.6 |
Composition of Development Expenditure |
LIST OF CHARTS |
III.1 |
Major Deficit Indicators |
III.2 |
Cyclical Behaviour of Sales tax/VAT Collections and Nominal GDP |
III.3 |
Cost Recovery of Select Services
(Ratio of Non-Tax Revenue to non-Plan Revenue Expenditure) |
III.4 |
Expenditure on Interest Payments, Pension and Administrative Services |
III.5 |
Major Components of Capital Receipts |
III.6 |
Development and Non-Development Expenditure |
III.7 |
Trend in Social Sector Expenditure |
III.8 |
Trend in Major Deficit Indicators |
IV.1 |
Revenue Deficit (+)/Surplus (-) of non-Special Category States |
IV.2 |
Gross Fiscal Deficit of non-Special Category States |
IV.3 |
Financing of Interest payments by Primary Revenue Surplus in non-Special Category States |
IV.4 |
Revenue Deficit (+)/Surplus (-) of Special Category States |
IV.5 |
Gross Fiscal Deficit of Special Category States |
IV.6 |
Financing of Interest Payments by Primary Revenue Surplus in Special Category States |
IV.7 |
Variation in Own Revenue (OR) and Central Transfers (CT) in 2008-09 (RE)
over 2005-08 (Avg.) - Non-Special Category States |
IV.8 |
Own Tax Revenue of non-Special Category States |
IV.9 |
Own non-Tax Revenue of non-Special Category States |
IV.10 |
Value Added Tax in non-Special Category States during the period (2007-08 to 2009-10) |
IV.11 |
Variation in Development and Non-Development Revenue Expenditure in
2008-09 (RE) over 2005-08 (Avg.) - non-Special Category States |
IV.12 |
Composition of Interest Payments in non-Special Category States - 2008-09 (RE) |
IV.13 |
Pre-emption of Revenue Receipts by Interest Payments and Committed
Expenditure in non-Special Category States - 2008-09 (RE) |
IV.14 |
Variation in Own Revenue (OR) and Central transfers (CT) in 2008-09 (RE) over
2005-08 (Avg.) - Special Category States |
IV.15 |
Own Tax Revenue of Special Category States |
IV.16 |
Own non-Tax Revenue of Special Category States |
IV.17 |
Value Added Tax in Special Category States |
IV.18 |
Variation in Development and non-Development Expenditure in 2008-09 (RE)
over 2005-08 (Avg.) - Special Category States |
IV.19 |
Composition of Interest Payments in Special Category States - 2008-09 (RE) |
IV.20 |
Pre-emption of Revenue Receipts by Interest Payments
in Special Category States - 2008-09 (RE) |
IV.21 |
Development Expenditure of non-Special Category States |
IV.22 |
Social Sector Expenditure of non-Special Category States |
IV.23 |
Capital Outlay of non-Special Category States |
IV.24 |
Development Expenditure of Special Category States |
IV.25 |
Social Sector Expenditure of Special Category States |
IV.26 |
Capital outlay of Special Category States |
V.1 |
Deficit, Debt and Interest Burden |
V.2 |
Composition of Outstanding Liabilities of State Governments (As at end-March) |
V.3 |
Debt-GSDP-Non-Special Category States |
V.4 |
Debt-GSDP-Special Category States |
V.5 |
Utilisation of WMA and Overdraft by States |
V.6 |
Investments in 14-day Intermediate and Auction Treasury Bills by State Governments |
VI.1 |
Trends in Aggregate Expenditure by State Governments |
VI.2 |
Composition of Expenditure of State Governments |
VI.3 |
Composition of Revenue Expenditure: Development vis-a-vis Non-Development |
VI.4 |
Share of Social and Economic Services in Total Development Revenue Expenditure |
VI.5 |
Committed Expenditure as percentage of Revenue Expenditure |
VI.6 |
Trend in Composition of Committed Expenditure of State Governments |
VI.7 |
Trend in Interest Payments |
VI.8 |
Composition of Interest Payments |
VI.9 |
Trends in Capital Outlay |
VI.10 |
Share of Capital Outlay in Total Expenditure and Capital Expenditure |
VI.11 |
Share of Development and Non-Development Expenditure |
VI.12 |
Development and Non-Development Expenditure (As percentage of GDP) |
VI.13 |
Share of Social and Economic Services in Development Expenditure |
VI.14 |
Trend in Social Sector Expenditure |
VI.15 |
Size of State Government Expenditure |
VI.16 |
(A) Weighted Coefficient of Variation in Per Capita Capital Outlay across States |
VI.16 |
(B) Weighted Coefficient of Variation in Per Capita Development Expenditure across States |
VI.16 |
(C) Social Sector Expenditure: Weighted Coefficient of Variation across States |
VI.16 |
(D) Weighted Coefficient of Variation in Per Capita Expenditure on Health |
VI.16 |
(E) Weighted Coefficient of Variation in Per Capita Expenditure on Rural Development |
VI.16 |
(F) Weighted Coefficient of Variation in Per Capita Expenditure on Education |
LIST OF APPENDIX TABLES |
1 |
Major Deficit Indicators of State Governments |
2 |
Consolidated Budgetary Position at a Glance |
3 |
Revenue Receipts |
4 |
Revenue Expenditure |
5 |
Capital Receipts |
6 |
Capital Disbursements |
7 |
Devolution and Transfer of Resources from the Centre |
8 |
Development and Non-Development Expenditure |
9 |
Development Expenditure - Major Heads |
10 |
Non-Development Expenditure - Major Heads |
11 |
Development and Non-Development Expenditure - Plan and Non-Plan Components |
12 |
Development and Non-Development Expenditure - Revenue and Capital Components |
13 |
Plan and Non-Plan Expenditure - Revenue and Capital Components |
14 |
Non-Plan Non-Development Expenditure of States |
15 |
Composition of Social Sector Expenditure |
16 |
Decomposition of Gross Fiscal Deficit |
17 |
Financing of Gross Fiscal Deficit |
18 |
Financing of Gross Fiscal Deficit - As per cent to Total |
19 |
Composition of Outstanding Liabilities of State Governments (As at end-March) |
20 |
Composition of Outstanding Liabilities of State Governments – As proportion to Total
(As at end-March) |
21 |
State Government Market Borrowings |
22 |
Composition of Capital Expenditure of States |
23 |
Major Components of Social Sector Expenditure |
LIST OF STATEMENTS |
1. |
Major Fiscal Indicators |
2. |
Revenue Deficit/Surplus |
3. |
Conventional Deficit/Surplus |
4. |
Gross Fiscal Deficit/Surplus |
5. |
Decomposition of Gross Fiscal Deficit |
6. |
Financing of Gross Fiscal Deficit - 2007-08 (Accounts) |
7. |
Financing of Gross Fiscal Deficit - As per cent to Total - 2007-08 (Accounts) |
8. |
Financing of Gross Fiscal Deficit - 2008-09 (RE) |
9. |
Financing of Gross Fiscal Deficit - As per cent to Total - 2008-09 (RE) |
10. |
Financing of Gross Fiscal Deficit - 2009-10 (BE) |
11. |
Financing of Gross Fiscal Deficit - As per cent to Total - 2009-10 (BE) |
12. |
Development Expenditure |
13. |
Non-Development Expenditure |
14. |
Plan Expenditure |
15. |
Non-Plan Expenditure |
16. |
Non-Plan Non-Development Expenditure |
17. |
Interest Payments |
18. |
Tax Revenue |
19. |
Own Tax Revenue |
20. |
Non-Tax Revenue |
21. |
Own Non-Tax Revenue |
22. |
Share in Central Taxes |
23. |
Grants from the Centre |
24. |
Loans from the Centre |
25. |
Devolution and Transfer of Resources from the Centre |
26. |
Composition of Outstanding Liabilities (As at end-March 2004 to 2010) |
27. |
Total Outstanding Liabilities of State Governments (As at end-March) |
28. |
Total Outstanding Liabilities of State Governments As percentage of GSDP
(As at end-March) |
29. |
Market Borrowings of State Governments |
30. |
Plan Outlay of State Governments |
31. |
Capital Receipts and Capital Expenditure |
32. |
State Government Market Loans |
33. |
Outstanding Market Loans of State Governments (As at end-March 2009) |
34. |
Maturity Profile of Outstanding State Government Securities
(Outstanding as on March 31, 2009) |
35. |
Maturity Profile of Outstanding State Government Securities -
As Percentage to total (Outstanding as on March 31, 2009) |
36. |
Select Committed Expenditure of State Governments - As Ratio to States’ Own Revenue |
37. |
Select Committed Expenditure of State Governments - As Ratio to Revenue Expenditure |
38. |
Availment of WMA and Overdraft from the Reserve Bank |
39. |
Ways and Means Advances from the Centre |
40. |
Investment Outstanding in 14-days Intermediate Treasury Bills (As at end-March) |
41. |
Expenditure on Education - As Ratio to Aggregate Expenditure |
42. |
Expenditure on Medical and Public Health and Family Welfare -
As Ratio to Aggregate Expenditure |
43. |
Outstanding Guarantees of State Governments (As at end-March) |
44. |
Expenditure on Wages and Salaries |
45. |
Expenditure on Operations and Maintenance |
46. |
Social Sector Expenditure |
47. |
Social Sector Expenditure to Total Expenditure |
48. |
Debt/Interest Relief availed by eligible States under DCRF recommended by TFC |
49. |
State-wise Trend in Total Expenditure |
50. |
State-wise Trend in Revenue Expenditure |
51. |
State-wise Trend in Capital Outlay |
52. |
State-wise Trend in Per-Capita Capital Outlay |
53. |
State-wise Trend in Development Expenditure |
54. |
State-wise Trend in Development Expenditure as per cent of Total Expenditure |
55. |
State-wise Trend in Per Capita Development Expenditure |
56. |
State-wise Trend in Social Sector Expenditure |
57. |
State-wise Trend in Per Capita Social Sector Expenditure |
APPENDICES |
I. |
Revenue Receipts of States and Union Territories with Legislature |
II. |
Revenue Expenditure of States and Union Territories with Legislature |
III. |
Capital Receipts of States and Union Territories with Legislature |
IV. |
Capital Expenditure of States and Union Territories with Legislature |
NOTES TO APPENDICES |