Finances of Government of India : 1999-2000 (Part 3 of 4) - আরবিআই - Reserve Bank of India
Finances of Government of India : 1999-2000 (Part 3 of 4)
Table 1 : Budget at a Glance |
(Rs. crore) |
Items |
1997-98 |
1998-99 |
1998-99 |
1999-2000 |
|
|
Variation |
|
|
||||
(Accounts) |
(Budget Estimates) |
(Revised Estimates) |
(Budget Estimates) |
Col.4 over Col.3 |
Col.4 over Col.2 |
Col.5 over Col.4 |
|||||||
|
|
|
|
|
|
|
Amount |
Per cent |
Amount |
Per cent |
Amount |
Per cent |
|
|
|
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
|
1 |
Revenue Receipts (i+ii) |
133,901 |
161,994 |
157,665 |
182,840 |
- 4,329 |
- 2.7 |
23,764 |
17.7 |
25,175 |
16.0 |
||
i) |
Tax Revenue (Net to Centre) |
95,672 |
116,857 |
109,537 |
132,365 |
- 7,320 |
- 6.3 |
13,865 |
14.5 |
22,828 |
20.8 |
||
ii) |
Non-tax Revenue |
38,229 |
45,137 |
48,128 |
50,475 |
2,991 |
6.6 |
9,899 |
25.9 |
2,347 |
4.9 |
||
of which : |
|||||||||||||
Interest Receipts |
25,323 |
27,954 |
30,544 |
33,034 |
2,590 |
9.3 |
5,221 |
20.6 |
2,490 |
8.2 |
|||
2 |
Capital Receipts @ |
98,167 |
105,933 |
124,247 |
101,042 |
18,314 |
17.3 |
26,080 |
26.6 |
- 23,205 |
- 18.7 |
||
of which : |
|||||||||||||
i) |
Market Borrowings |
32,499 |
48,326* |
64,911* |
57,461* |
16,585 |
34.3 |
32,412 |
99.7 |
- 7,450 |
- 11.5 |
||
ii) |
Recoveries of Loans |
8,318 |
9,908 |
11,504 |
11,087 |
1,596 |
16.1 |
3,186 |
38.3 |
- 417 |
- 3.6 |
||
iii) |
Disinvestment of equity in |
912 |
5,000 |
9,000 |
10,000 |
4,000 |
80.0 |
8,088 |
886.8 |
1,000 |
11.1 |
||
iv) |
Issue of Bonus shares |
- |
- |
6 |
- |
- |
- |
- |
- |
- |
- |
||
3 |
Total Receipts (1 + 2) |
232,068 |
267,927 |
281,912 |
283,882 |
13,985 |
5.2 |
49,844 |
21.5 |
1,970 |
0.7 |
||
4 |
Revenue Expenditure (i + ii) |
180,350 |
210,062 |
218,139 |
236,987 |
8,077 |
3.8 |
37,789 |
21.0 |
18,848 |
8.6 |
||
i) |
Non-Plan |
145,176 |
166,301 |
176,691 |
190,331 |
10,390 |
6.2 |
31,515 |
21.7 |
13,640 |
7.7 |
||
ii) |
Plan |
35,174 |
43,761 |
41,448 |
46,656 |
- 2,313 |
- 5.3 |
6,274 |
17.8 |
5,208 |
12.6 |
||
5 |
Capital Expenditure (i + ii) |
51,718 |
57,865 |
63,773 |
46,895$ |
5,908 |
10.2 |
12,055 |
23.3 |
- 16,878 |
- 26.5 |
||
i) |
Non-Plan |
27,815 |
29,624 |
36,850 |
16,551$ |
7,226 |
24.4 |
9,035 |
32.5 |
- 20,299 |
- 55.1 |
||
ii) |
Plan |
23,903 |
28,241 |
26,923 |
30,344 |
- 1,318 |
- 4.7 |
3,020 |
12.6 |
3,421 |
12.7 |
||
6 |
Total Non-Plan Expenditure |
172,991 |
195,925 |
213,541 |
206,882$ |
17,616 |
9.0 |
40,550 |
23.4 |
- 6,659 |
- 3.1 |
||
of which : |
|||||||||||||
i) |
Interest Payments |
65,637 |
75,000 |
77,248 |
88,000 |
2,248 |
3.0 |
11,611 |
17.7 |
10,752 |
13.9 |
||
ii) |
Defence |
35,278 |
41,200 |
41,200 |
45,693 |
- |
- |
5,922 |
16.8 |
4,493 |
10.9 |
||
iii) |
Subsidies |
19,487 |
22,025 |
24,683 |
23,838 |
2,658 |
12.1 |
5,196 |
26.7 |
- 845 |
- 3.4 |
||
7 |
Total Plan Expenditure |
||||||||||||
(4ii + 5ii) |
59,077 |
72,002 |
68,371 |
77,000 |
- 3,631 |
- 5.0 |
9,294 |
15.7 |
8,629 |
12.6 |
|||
8 |
Total Expenditure (6 + 7 = 4 +5) |
232,068 |
267,927 |
281,912 |
283,882$ |
13,985 |
5.2 |
49,844 |
21.5 |
1,970 |
0.7 |
||
9 |
Revenue Deficit (4 - 1) |
46,449 |
48,068 |
60,474 |
54,147 |
||||||||
10 |
Gross Fiscal Deficit [8 - (1 + 2ii |
88,937 |
91,025 |
103,737 |
79,955 |
||||||||
11 |
Gross Primary Deficit (10 - 6i) |
23,300 |
16,025 |
26,489 |
- 8,045 |
||||||||
12 |
Net Fiscal Deficit |
63,062 |
66,344 |
70,988 |
68,547 |
||||||||
13 |
Net Primary Deficit |
22,748 |
19,298 |
24,284 |
13,581 |
||||||||
14 |
Monetised Deficit # |
12,914 |
- |
16,750$$ |
N.A. |
|
|
|
|
|
|
@ |
: |
Capital Receipts are net of repayments. |
* |
: |
Includes market loans, Zero Coupon Bonds, loans in conversion of maturing Treasury Bills, 364 day Treasury Bills, etc. |
# |
: |
As per RBI records. |
(-) |
: |
Indicates surplus. |
N.A. |
: |
Not available. |
$ |
: |
With effect from 1.4.1999, a new system of transferring 75% of the net small savings collections to States and UTs from the Public Account is being introduced. With this change, the non- Plan capital expenditure of the Centre during 1999-2000 is estimated to be lower by Rs.25,000 crore. |
$$ |
: |
Upto March 19, 1999. |
Source |
: |
Budget documents of the Government of India, 1999-2000. |
Table 2 : Transactions on Revenue Account |
|
|
|
|
|
|
|
|
|
|
|
(Rs. crore) |
|
Items | 1997-98 |
1998-99 |
1998-99 |
1999-2000 |
|
|
Variation |
|
|
|||
|
(Accounts) |
(Budget Estimates) |
(Revised Estimates) |
(Budget Estimates) |
Col.4 over Col.3 |
Col.4 over Col.2 |
Col.5 over Col.4 |
|||||
|
|
|
|
|
|
|
Amount |
Per cent |
Amount |
Per cent |
Amount |
Per cent |
|
|
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
I. |
Revenue Receipts (A+B) |
133,901 |
161,994 |
157,665 |
182,840 |
- 4,329 |
- 2.7 |
23,764 |
17.7 |
25,175 |
16.0 |
|
A |
Tax Revenue (Net to Centre) |
95,672 |
116,857 |
109,537 |
132,365 |
- 7,320 |
- 6.3 |
13,865 |
14.5 |
22,828 |
20.8 |
|
1 |
Corporation Tax |
20,016 |
26,550 |
27,050 |
30,850 |
500 |
1.9 |
7,034 |
35.1 |
3,800 |
14.0 |
|
2 |
Taxes on Income other than |
|||||||||||
Corporation Tax (Net) |
3,589 |
6,984 |
6,932 |
9,923 |
- 52 |
- 0.7 |
3,343 |
93.1 |
2,991 |
43.1 |
||
3 |
Interest Tax |
1,205 |
920 |
920 |
1,000 |
- |
- |
- 285 |
- 23.7 |
80 |
8.7 |
|
4 |
Customs Duty |
40,193 |
48,148 |
42,648 |
50,369 |
- 5,500 |
- 11.4 |
2,455 |
6.1 |
7,721 |
18.1 |
|
5 |
Union Excise Duty (Net) |
25,516 |
30,782 |
28,535 |
36,357 |
- 2,247 |
- 7.3 |
3,019 |
11.8 |
7,822 |
27.4 |
|
6 |
Taxes of UTs (Net of |
|||||||||||
assignments to local bodies) |
313 |
284 |
306 |
312 |
22 |
7.7 |
- 7 |
- 2.2 |
6 |
2.0 |
||
7 |
Other Taxes and Duties |
4,840# |
3,189 |
3,146 |
3,554 |
- 43 |
- 1.3 |
- 1,694 |
- 35.0 |
408 |
13.0 |
|
B |
Non-Tax Revenue |
38,229 |
45,137 |
48,128 |
50,475 |
2,991 |
6.6 |
9,899 |
25.9 |
2,347 |
4.9 |
|
of which : |
||||||||||||
1 |
Interest Receipts |
25,323 |
27,954 |
30,544 |
33,034 |
2,590 |
9.3 |
5,221 |
20.6 |
2,490 |
8.2 |
|
2 |
Dividends and Profits |
5,181 |
7,373 |
7,537 |
9,483 |
164 |
2.2 |
2,356 |
45.5 |
1,946 |
25.8 |
|
of which : |
||||||||||||
Profits from RBI * |
2,500 |
4,200 |
4,150 |
5,700 |
- 50 |
- 1.2 |
1,650 |
66.0 |
1,550 |
37.3 |
||
3 |
External Grants |
1,018 |
1,054 |
813 |
715 |
- 241 |
- 22.9 |
- 205 |
- 20.1 |
- 98 |
- 12.1 |
|
4 |
Non-tax Receipts of UTs |
325 |
331 |
358 |
371 |
27 |
8.2 |
33 |
10.2 |
13 |
3.6 |
|
II. |
Revenue Expenditure (A+B) |
180,350 |
210,062 |
218,139 |
236,987 |
8,077 |
3.8 |
37,789 |
21.0 |
18,848 |
8.6 |
|
A |
Non-Plan Expenditure |
145,176 |
166,301 |
176,691 |
190,331 |
10,390 |
6.2 |
31,515 |
21.7 |
13,640 |
7.7 |
|
of which : |
||||||||||||
1 |
Interest Payments |
65,637 |
75,000 |
77,248 |
88,000 |
2,248 |
3.0 |
11,611 |
17.7 |
10,752 |
13.9 |
|
2 |
Defence Revenue |
|||||||||||
Expenditure |
26,174 |
30,840 |
31,013 |
33,464 |
173 |
0.6 |
4,839 |
18.5 |
2,451 |
7.9 |
||
3 |
Major Subsidies |
18,238 |
19,883 |
21,063 |
22,440 |
1,180 |
5.9 |
2,825 |
15.5 |
1,377 |
6.5 |
|
4 |
Non-Plan Grants to States and |
4,416 |
6,753 |
4,534 |
8,159 |
- 2,219 |
- 32.9 |
118 |
2.7 |
3,625 |
80.0 |
|
B |
Plan Expenditure (1+2) |
35,174 |
43,761 |
41,448 |
46,656 |
- 2,313 |
- 5.3 |
6,274 |
17.8 |
5,208 |
12.6 |
|
1 |
Central Plan |
22,780 |
30,115 |
26,910 |
30,980 |
- 3,205 |
- 10.6 |
4,130 |
18.1 |
4,070 |
15.1 |
|
2 |
Central Assistance for State |
|||||||||||
and UT Plans |
12,394 |
13,646 |
14,538 |
15,676 |
892 |
6.5 |
2,144 |
17.3 |
1,138 |
7.8 |
||
III. |
Revenue Deficit (- )/Surplus(+) |
|||||||||||
|
[ I-II ] |
- 46,449 |
- 48,068 |
- 60,474 |
- 54,147 |
|
|
|
|
|
|
# |
: |
Net taxes of the Centre after adjusting the States' share in VDIS of Rs 7,594 crore in 1997-98 (Accounts). |
|
* |
: |
The surplus profits transferred by RBI to Government during 1998-99 and 1999-2000 are placed at Rs.5,977 crore and Rs.5,700 crore, respectively. However, the Revised Estimates for 1998-99 have been netted to Rs.4,150 crore taking into account the provision of Rs.1,827 crore to meet the exchange loss liability which the Government has taken over from RBI on account of Foreign Currency Non-Resident Accounts Scheme for deposits maturing since July 1,1993. |
|
Source : |
Budget Documents of the Government of India, 1999-2000. |
Table 3 : Transactions on Capital Account |
|
|
|
|
|
|
|
|
|
|
|
(Rs. crore) |
||
Items |
1997-98 |
1998-99 |
1998-99 |
1999-2000 |
|
|
Variation |
|
|
||||
(Accounts) |
(Budget Estimates) |
(Revised Estimates) |
(Budget Estimates) |
Col.4 over Col.3 |
Col.4 over Col.2 |
Col.5 over Col.4 |
|||||||
|
|
|
|
|
|
|
Amount |
Per cent |
Amount |
Per cent |
Amount |
Per cent |
|
|
|
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
|
I. |
Capital Receipts @ (1 to 8) |
98,167 |
105,933 |
124,247 |
101,042 |
18,314 |
17.3 |
26,080 |
26.6 |
- 23,205 |
- 18.7 |
||
1 |
Market Borrowings |
32,499 |
48,326* |
64,911* |
57,461* |
16,585 |
34.3 |
32,412 |
99.7 |
- 7,450 |
- 11.5 |
||
2 |
Small Savings, Public |
||||||||||||
Provident Funds etc. |
24,497 |
21,640 |
29,000 |
8,000$ |
7,360 |
34.0 |
4,503 |
18.4 |
- |
- |
|||
of which : |
|||||||||||||
Public Provident Funds |
4,034 |
4,100 |
4,540 |
- |
440 |
10.7 |
506 |
12.5 |
- |
- |
|||
3 |
State Provident Funds |
4,383 |
5,350 |
5,350 |
6,000 |
- |
- |
967 |
22.1 |
650 |
12.1 |
||
4 |
Special Deposits |
4,480 |
9,495 |
9,238 |
10,460 |
- 257 |
- 2.7 |
4,758 |
106.2 |
1,222 |
13.2 |
||
5 |
Recovery of Loans and |
||||||||||||
Advances |
8,318 |
9,908 |
11,504 |
11,087 |
1,596 |
16.1 |
3,186 |
38.3 |
- 417 |
- 3.6 |
|||
6 |
Disinvestment of equity holding in |
||||||||||||
public sector enterprises |
912 |
5,000 |
9,000 |
10,000 |
4,000 |
80.0 |
8,088 |
886.8 |
1,000 |
11.1 |
|||
7 |
External Borrowings |
1,091 |
2,337 |
910 |
845 |
- 1,427 |
- 61.1 |
- 181 |
- 16.6 |
- 65 |
- 7.1 |
||
8 |
Others # |
21,987 |
3,877 |
- 5,666+ |
- 2,811 |
- 9,549 |
- 246.3 |
- 27,659 |
- 125.8 |
2,861 |
- 50.4 |
||
II. |
Capital Expenditure (1+2) |
51,718 |
57,865 |
63,773 |
46,895$ |
5,908 |
10.2 |
12,055 |
23.3 |
- 16,878 |
- 26.5 |
||
1 |
Non-Plan Expenditure |
27,815 |
29,624 |
36,850 |
16,551$ |
7,226 |
24.4 |
9,035 |
32.5 |
- 20,299 |
- 55.1 |
||
of which : |
|||||||||||||
Defence Capital |
9,104 |
10,360 |
10,187 |
12,230 |
- 173 |
- 1.7 |
1,083 |
11.9 |
2,043 |
20.1 |
|||
2 |
Plan Expenditure (i+ii) |
23,903 |
28,241 |
26,923 |
30,344 |
- 1,318 |
- 4.7 |
3,020 |
12.6 |
3,421 |
12.7 |
||
i) |
Central Plan |
9,550 |
12,349 |
11,353 |
13,020 |
- 996 |
- 8.1 |
1,803 |
18.9 |
1,667 |
14.7 |
||
ii) |
Central Assistance for |
||||||||||||
State and UT Plans |
14,353 |
15,892 |
15,570 |
17,324 |
- 322 |
- 2.0 |
1,217 |
8.5 |
1,754 |
11.3 |
|||
III. |
Capital Surplus(+)/Deficit(-) |
||||||||||||
|
[I-II] |
+46,449 |
+48,068 |
+60,474 |
+54,147 |
|
|
|
|
|
|
@ |
: |
Capital Receipts are net of repayments. |
|
* |
: |
Includes Market loans, Zero Coupon Bonds, loans in conversion of maturing Treasury Bills, 364 day Treasury Bills etc. |
|
# |
: |
Comprises Reserve Funds, Deposits and Advances, Relief Bonds, bonus shares etc. |
|
+ |
: |
Includes draw-down of cash balances of Rs.3,233 crore. |
|
$ |
: |
With effect from April 1,1999, a new system of transferring 75 per cent of the net small savings collections to States and UTs from Public Account is being introduced. Under the new system, the small savings collections would be credited to "National Small Savings Fund" (NSSF) in Public Account. Similarly, all withdrawals of small savings by the depositors would be made out of the accumulation in the Fund. The balance in the Fund will be invested in Central and State Government securities. The debt servicing of these Government securities will be an income of the Fund while the cost of interest and cost of management of small savings will be an expenditure of the Fund. For 1999-2000, the investment in Central and State Government securities is budgeted at Rs.8,000 crore and Rs.25,000 crore, respectively. The investment in Central Government securities would form the part of Government of India's internal debt. |
|
Source: | Budget documents of Government of India, 1999-2000. |
Table 4 : Interest Payments by the Central Government |
|
|
|
|
|
|
|
|
(Rs. crore) |
|
1993-94 |
1994-95 |
1995-96 |
1996-97 |
1997-98 |
1998-99 |
1999-2000 |
|||
Items |
(Accounts) |
(Accounts) |
(Accounts) |
(Accounts) |
(Revised |
(Revised |
(Budget |
||
|
|
|
|
|
|
Estimates) |
Estimates) |
Estimates) |
|
|
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
|
I. |
Interest Payments on Internal |
||||||||
Debt |
15,588 |
19,168 |
22,179 |
27,233 |
31,459 |
39,439 |
45,972 |
||
of which : |
|||||||||
i) |
On Market Loans |
9,258 |
13,205 |
15,400 |
19,125 |
22,189 |
28,072 |
34,371 |
|
ii) |
On 91/182/364 days Treasury |
||||||||
Bills |
6,188 |
5,520 |
6,047 |
7,003 |
1,982 |
6,270 |
6,469 |
||
II. |
Interest on External debt |
3,724 |
4,026 |
4,414 |
4,223 |
4,150 |
4,273 |
4,184 |
|
III. |
Interest on Small Savings, |
||||||||
Provident Funds etc. |
10,288 |
12,392 |
13,309 |
16,855 |
20,432 |
21,441 |
26,189 |
||
IV. |
Interest on Special Deposits of |
||||||||
Non-Government Provident |
|||||||||
Funds etc. |
6,648 |
7,921 |
9,222 |
10,246 |
8,615 |
9,100 |
10,200 |
||
V. |
Interest on Reserve Funds |
170 |
220 |
253 |
378 |
510 |
483 |
426 |
|
VI. |
Interest on Other Obligations |
323 |
333 |
668 |
543 |
534 |
2,512 |
1,029 |
|
|
|
|
|
|
|
|
|
|
|
|
Total Interest Payments (I to VI) |
36,741 |
44,060 |
50,045 |
59,478 |
65,700 |
77,248 |
88,000 |
Source : | Finance Accounts of the Government of India and Budget documents of the Government of India, 1999-2000. |