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
PSUs

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
(4i+ 5i)

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
+ 2iii + 2iv)]

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)

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)
(1 to 7)

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
Uts

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.

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