IST,
Content
Foreword |
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List of Abbreviations |
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Chapter I: Overview |
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| 1. | Introduction |
| 2. | Preview |
Chapter II: Issues and Perspectives |
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| 1. | Introduction |
| 2. | Revised Fiscal Roadmap for States |
| 3. | Implications of Recommendations of Thirteenth FC |
| 4. | Introduction of Goods and Services Tax |
| 5. | Expenditure Management |
| 6. | Surplus Cash Balances |
| 7. | Disclosure and Dissemination in State Budgets |
| 8. | Strengthening the State Finance Commissions |
| 9. | Conclusion |
Chapter III: Policy Initiatives |
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| 1. | Introduction |
| 2. | State Governments |
| 3. | Government of India |
| 4. | Reserve Bank of India |
| 5. | Conclusion |
Chapter IV: Consolidated Fiscal Position of State Governments |
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| 1. | Introduction |
| 2. | Accounts: 2008-09 |
| 3. | Revised Estimates: 2009-10 |
| 4. | Budget Estimates: 2010-11 |
| 5. | Assessment |
| 6. | Conclusion |
Chapter V: State-wise Analysis of Fiscal Performance |
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| 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 VI: Outstanding Liabilities, Market Borrowings and Contingent Liabilities of State Governments |
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| 1. | Introduction |
| 2. | Outstanding Liabilities |
| 3. | State-wise Debt Position |
| 4. | Market Borrowings |
| 5. | Contingent Liabilities |
| 6. | Liquidity Position and Cash Management |
| 7. | Investment of Cash Balances |
| 8. | Debt Consolidation and Debt Relief |
| 9. | Conclusion |
Chapter VII: Finance Commissions in India: An Assessment |
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| 1. | Introduction |
| 2. | Centre-State Financial Relations: Indian Context |
| 3. | Developments in Mandate |
| 4. | Devolution of Resources from Centre to States |
| 5. | Extent of Equalisation |
| 6. | Conclusion |
ANNEX 1 |
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Major Policy Initiatives of State Budgets 2010-11 |
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LIST OF BOXES |
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| III.1. | Inflation and Supply-Side Measures at the States’ Level |
| III.2. | West Bengal Fiscal Responsibility and Budget Management Act 2010 |
| IV.1. | State Level Public Enterprises and State Finances |
| V.1. | Fiscal Consolidation: Revised Roadmap for States |
| VI.1. | Efficient Management of State Market Borrowings – Cost and Spread |
| VII.1. | Transfers from Centre to States: Degree of Equalisation |
LIST OF TABLES |
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| III.1. | Institutional Reforms by State Governments |
| IV.1. | Major Deficit Indicators of State Governments |
| IV.2 | Variation in Major Items – 2008-09 (Accounts) over 2008-09 (RE) |
| IV.3 | Variation in Major Items – 2009-10 (RE) over 2009-10 (BE) |
| IV.4 | Variation in Major Items – 2010-11 (BE) over 2009-10 (RE) |
| IV.5 | Aggregate Receipts of State Governments |
| IV.6 | Cost Recovery of Select Services |
| IV.7 | Expenditure Pattern of State Governments |
| IV.8 | Development Expenditure vis-a-vis Total Expenditure |
| IV.9 | Trend in Aggregate Social Sector Expenditure of State Governments |
| IV.10 | Expenditure on Social Services (Revenue and Capital Accounts) Composition |
| IV.11 | State-wise Correction of RD and GFD – 2010-11 (BE) over 2009-10 (RE) |
| IV.12 | Decomposition and Financing Pattern of Gross Fiscal Deficit – 2008-09 (Accounts) to 2010-11 (BE) |
| IV.13 | Budgetary Data Variation – State Budgets and Union Budgets |
| V.1 | Deficit Indicators of State Governments |
| V.2 | Share of Special and Non-special Category States in Deficit Indicators |
| V.3 | Revenue Receipts of the State Governments |
| V.4 | Revenue Expenditure of State Governments |
| V.5. | Expenditure Pattern of State Governments |
| VI.1 | Outstanding Liabilities of State Governments |
| VI.2 | Composition of Outstanding Liabilities of State Governments (As at end-March) |
| VI.3 | State-wise Debt-GSDP Position |
| VI.4 | Interest Rate Profile of the Outstanding Stock of State Government Securities (As at end-March) |
| VI.5 | Market Borrowings of State Governments |
| VI.6 | Maturity Profile of Outstanding State Government Securities |
| VI.7 | Average Interest Rate on Outstanding Liabilities of State Governments |
| VII.1 | Recommended Share of States in Major Divisible Taxes |
| VII.2 | Pattern of Transfers from Centre to States by Finance Commissions |
LIST OF CHARTS |
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| IV.1 | Trend in Interest Receipts |
| IV.2 | Composition of Committed Expenditure |
| IV.3 | Major Components of Capital Receipts |
| IV.4 | Cyclical behaviour of Tax Devolution and Grants from Centre vis-a-vis GDP |
| V.1 | VAT as per cent of OTR in Non-special Category States |
| V.2 | Financing of Interest Payments by Primary Revenue Balance in Non-special Category States - 2009-10 (RE) |
| V.3 | Pre-emption of Revenue receipts by Interest Payments and Committed Expenditure in Non-special Category States - 2009-10 (RE) |
| V.4 | Composition of Interest Payments in Non-special Category States - 2009-10 (RE) |
| V.5 | VAT as per cent of OTR in Special Category States |
| V.6 | Pre-emption of Revenue Receipts by Interest Payments and Committed Expenditure in Special Category States - 2009-10 (RE) |
| VI.1 | Deficit, Debt and Interest Burden |
| VI.2 | Utilisation of WMA and Overdraft by States (Average of daily outstanding) |
| VI.3 | Investment in 14-day Intermediate and Auction Treasury Bills by the State Governments (Average of Friday outstanding) |
| VII.1 | Transfers as Ratio to Revenue Receipts and Revenue Expenditure of States |
LIST OF APPENDIX TABLES |
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| 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 | Distribution Criteria of the Net Proceeds of Income Tax |
| 23 | Distribution Criteria of the Union Excise Duties |
LIST OF STATEMENTS |
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| 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 - 2008-09 (Accounts) |
| 7. | Financing of Gross Fiscal Deficit - As per cent to Total - 2008-09 (Accounts) |
| 8. | Financing of Gross Fiscal Deficit - 2009-10 (RE) |
| 9. | Financing of Gross Fiscal Deficit - As per cent to Total - 2009-10 (RE) |
| 10. | Financing of Gross Fiscal Deficit - 2010-11 (BE) |
| 11. | Financing of Gross Fiscal Deficit - As per cent to Total - 2010-11 (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 2009-2011) |
| 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. | Markets 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 2010) |
| 34. | Maturity Profile of Outstanding State Government Securities (Outstanding as on March 31, 2010) |
| 35. | Maturity Profile of Outstanding State Government Securities - As Percentage to total (Outstanding as on March 31, 2010) |
| 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-day 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 Twelfth FC |
| 49. | Decomposition of Recommended Per Capita Transfers : Tenth FC |
| 50. | Decomposition of Recommended Per Capita Transfers : Eleventh FC |
| 51. | Decomposition of Recommended Per Capita Transfers : Twelfth FC |
| 52. | Decomposition of Recommended Per Capita Transfers : Thirteenth FC |
APPENDICES |
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| 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 |
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