Content - आरबीआय - Reserve Bank of India
83708306
प्रकाशित तारीख सप्टेंबर 30, 2019
Content
Foreword |
List of Abbreviations |
Chapter I: Overview |
Chapter II: Fiscal Position of State Governments |
1. Introduction |
2. Accounts: 2017-18 |
3. Revised Estimates: 2018-19 |
4. Budget Estimates: 2019-20 |
5. Financing and Market Borrowing |
6. Outstanding Liabilities of State Governments |
7. Concluding Observations |
Annex II.1: States’ Revenue: Variability and Predictability |
Annex II.2: List of State Government Health Care Schemes |
Chapter III: Debt: States’ Medium-Term Fiscal Challenge |
1. Introduction |
2. States’ Revenue |
2.1 Own Tax Revenue |
2.2 States’ Non-Tax Revenue |
2.3 Central Transfers |
3. States’ Liability Burden: Power Distribution |
3.1 Power Distribution Utilities |
3.2 Impact of Power Distribution Restructuring |
4. Guarantees |
5. Market Borrowings by States |
5.1 Liquidity of State Development Loans (SDLs) |
5.2 Pricing of SDLs |
5.3 Maturity Profile of SDLs |
5.4 Ownership Pattern of SDLs |
6. Debt Sustainability |
7. Concluding Observations |
Annex III.1: Evolving Institutional Mechanism for GST |
Annex III.2: Timeline of GST Council Meetings and Major Decisions |
Annex III.3: Power Distribution – a Short History of Reforms and Government Programmes |
Chapter IV: Way Forward |
References |
Explanatory Note on Data Sources and Methodology |
e-STATES Database |
LIST OF BOXES |
II.1 Farm Loan Waivers and Income Support Schemes |
II.2 Ayushman Bharat Programme |
III.1 Tax Buoyancy at the State Level |
III.2 Risks from Future Takeover of Losses under UDAY |
III.3 Reissuances of SDLs and Liquidity |
III.4 Elongation of Debt: Telangana Experience |
III.5 Debt Sustainability of Indian States: An Empirical Assessment |
LIST OF TABLES |
II.1 Major Deficit Indicators: All States and Union Territories with Legislature |
II.2 Aggregate Receipts of State Governments and UTs |
II.3 Expenditure Pattern of State Governments and UTs |
II.4 Fiscal Position of States |
II.5 Deficit Indicators of State Governments – State-wise |
II.6 Variation in Major Items |
II.7 Composition of Expenditure on Social Services (Revenue and Capital Accounts) |
II.8 Financing Pattern of Gross Fiscal Deficit |
II.9 Market Borrowings of States |
II.10 Maturity Profile of Outstanding State Government Securities |
II.11 Investments of Surplus Cash Balances of State Governments |
II.12 Investments in CSF/GRF by States |
II.13 Outstanding Liabilities of State Governments and UTs |
II.14 Composition of Outstanding Liabilities of State Governments |
III.1 States’ Own Tax Revenue - Composition |
III.2 Stamp Duty Collections |
III.3 Non-Tax Revenue Composition |
III.4 Trend in Central Transfers as a Ratio to Total Revenue and Expenditure of States |
III.5 Tax Devolution: Changing Pattern |
III.6 Trend in Special Levies (Cess and Surcharges) by the Central Government |
III.7 FPI in State Development Loans: Limits and Investment |
III.8 States’ Debt Sustainability - Indicator-based Analysis |
III.9 Key Assumption for States DSA Model |
III.10 Debt Sustainability Analysis - Key Assumption and Results |
LIST OF CHARTS |
II.1 Major Deficit Indicators |
II.2 Fiscal Position of States: 2017-18 vis-à-vis 2016-17 |
II.3 States’ Capital Outlay: Trends |
II.4 Committed Expenditure |
II.5 Gross Fiscal Deficit: State Governments |
II.6 States-wise GFD as per cent to GSDP in 2019-20 (BE) |
II.7 GST and Non-GST Collections |
II.8 Social Sector Expenditure |
II.9 Quality of Expenditure |
II.10 Movement of SDL Yields |
II.11 Maturity Profile of SDLs |
II.12 Negative Carry of State Government Investments |
II.13 States’ Outstanding Debt and Ratio of Interest Payments to Revenue Receipt |
III.1 States’ Total Revenues - Key Constituents (2019-20) |
III.2 States’ Total Revenue - Trend and Composition |
III.3 States’ Own Tax Revenue and Central Transfers |
III.4 State-wise Tax-GSDP ratio |
III.5 SGST Collections by States - Annual and Monthly |
III.6 Cross-Country Performance of Goods and Services Tax Post its Implementation |
III.7 Weighted Average (Effective) GST Rate |
III.8 Compensation Cess for States in 2017-18 and 2018-19 RE |
III.9 Distribution of States’ Share of Taxes on Petroleum and Alcohol (as per cent of own tax revenue) |
III.10 Trends in Non-Tax Revenues |
III.11 Change in Non-tax Revenue, 2007-20 |
III.12 Composition of States’ Revenue – Own vis-à-vis Central Transfers |
III.13 Total transfers from Centre to States |
III.14 Composition of Central Transfers to States |
III.15 Power Sector Contribution to State Finances |
III.16 State Power Distribution Utilities Cost, Capital Employed and Revenue- Stylised Evidence |
III.17 Fiscal Impact of UDAY Programme |
III.18 Financial performance of DISCOMs in Post-UDAY Period and Contributing Factors |
III.19 State-wise Performance of DISCOMs Post UDAY: ACS- ARR Gap and AT & C Losses |
III.20 Expected Fiscal Impact on States from UDAY |
III.21 Outstanding Dues of Power Utilities to Central Power Sector Undertakings |
III.22 Outstanding Guarantees |
III.23 Sectoral Distribution of Outstanding Guarantees |
III.24 State-wise Guarantees’ Growth and Guarantees Outstanding (per cent of GSDP) |
III.25 SDLs Liquidity Metrics Compared to GoI Securities |
III.26 SDLs Ownership Pattern and FPI Interest |
III.27 Debt and Real GDP Growth |
III.28 Debt Indicators: All states |
III.29 Debt Dynamics of States |
III.30 Cross-Country Subnational Government Debt (End-2018) |
III.31 Contribution to Changes in States Debt to GDP Ratio |
LIST OF APPENDIX TABLES FOR STATES’ BUDGETS 2019-20 |
1. Major Deficit Indicators of State Governments |
2. Devolution and Transfer of Resources from the Centre |
3. Development and Non-Development Expenditure: Aggregate |
4. Development Expenditure - Major Heads |
5. Non-Development Expenditure - Major Heads |
6. Development and Non-Development Expenditure |
7. Composition of Social Sector Expenditure |
8. Decomposition of Gross Fiscal Deficit |
9. Financing of Gross Fiscal Deficit |
10. Financing of Gross Fiscal Deficit - As Per cent to Total |
11. Composition of Outstanding Liabilities of State Governments |
12. Composition of Outstanding Liabilities of State Governments - As Proportion to Total |
13. State Government Market Borrowings |
LIST OF STATEMENTS AND APPENDICES FOR STATES’ BUDGETS 2019-20 |
LIST OF STATEMENTS |
1. Major Fiscal Indicators |
2. Revenue Deficit/Surplus |
3. Gross Fiscal Deficit/Surplus |
4. Decomposition of Gross Fiscal Deficit |
5. Financing of Gross Fiscal Deficit – 2017-18 (Accounts) |
6. Financing of Gross Fiscal Deficit – As per cent to Total – 2017-18 (Accounts) |
7. Financing of Gross Fiscal Deficit – 2018-19 (RE) |
8. Financing of Gross Fiscal Deficit – As per cent to Total – 2018-19 (RE) |
9. Financing of Gross Fiscal Deficit – 2019-20 (BE) |
10. Financing of Gross Fiscal Deficit – As per cent to Total – 2019-20 (BE) |
11. Development Expenditure |
12. Non-Development Expenditure |
13. Interest Payments |
14. Tax Revenue |
15. Non-Tax Revenue |
16. Loans from the Centre |
17. Devolution and Transfer of Resources from the Centre |
18. Composition of Outstanding Liabilities |
19. Total Outstanding Liabilities of State Governments |
20. Total Outstanding Liabilities - As percentage of GSDP |
21. Market Borrowings of State Governments |
22. State Government Market Loans |
23. Maturity Profile of Outstanding State Government Securities |
24. Maturity Profile of Outstanding State Government Securities - As Percentage to Total |
25. Investment Outstanding in Treasury Bills |
26. Expenditure on Education - As Ratio to Aggregate Expenditure |
27. Expenditure on Medical and Public Health and Family Welfare - As Ratio to Aggregate Expenditure |
28. Outstanding Guarantees of State Governments |
29. Expenditure on Wages and Salaries |
30. Expenditure on Operations and Maintenance |
31. Social Sector Expenditure |
32. Social Sector Expenditure to Total Disbursement |
33. Revenue Receipts of State Governments and UTs |
34. Revenue Expenditure of State Governments and UTs |
35. Development Expenditure: Select Indicators |
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 |
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