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ప్రచురించబడిన తేదీ మే 12, 2015

Foreword
List of Abbreviations
Chapter I: Overview
1.	Introduction
Chapter II: Fiscal Consolidation: Assessment and Medium Term Prospects
1.	Introduction
2.	Why Does Fiscal Consolidation Matter?
3.	Fiscal Responsibility Legislations and States’ Fiscal Consolidation
4.	Fiscal Consolidation and Sub-national Growth: An Empirical Exploration
5.	Sources and Composition of Fiscal Consolidation
6.	Fiscal Consolidation: A Medium Term Perspective
Chapter III: Fiscal Position of State Governments
1.	Introduction
2.	Accounts: 2012-13
3.	Revised Estimates: 2013-14
4.	Budget Estimates: 2014-15
5.	Conclusion
Chapter IV: Issues and Perspectives
1.	Evaluating States’ Budgetary Forecasting Performance
2.	Changing Dynamics of Fiscal Federalism
3.	Taxing E-commerce Trade
Annex 1: Date of FRL and Period for Calculating Average
Annex 2: Major Fiscal Indicators (as per cent to GSDP)
References
Explanatory Note on Data Sources and Methodology
LIST OF BOXES
III.1	State Power Utilities and State Finances
III.2	Centrally Sponsored Schemes: Changes in the Accounting Practice
IV.1	Major Recommendations of the Fourteenth Finance Commission relating to the States
IV.2	Taxing E-Commerce: Cross-Country Experience
LIST OF TABLES
II.1	Expansionary Fiscal Consolidation
II.2	Fiscal Consolidation Episodes
II.3	Probability of Success for the Fiscal Consolidation
II.4a	Revenue-led Fiscal Consolidation Episodes during the post-FRBM period
II.4b	Expenditure-led Fiscal Consolidation Episodes during the post-FRBM period
III.1	Major Deficit Indicators of State Governments
III.2	Fiscal Imbalances in Non-Special and Special Category States
III.3	Aggregate Receipts of State Governments
III.4	Variation in Major Items
III.5	Expenditure Pattern of State Governments
III.6	Deficit Indicators of State Governments
III.7	Composition of Expenditure on Social Services (Revenue and Capital Accounts)
III.8	Decomposition and Financing Pattern of Gross Fiscal Deficit
III.9	Outstanding Liabilities of State Governments
III.10	State-wise Debt-GSDP Position
III.11	Composition of Outstanding Liabilities of State Governments
III.12	Interest Rate Profile of Outstanding Stock of State Government Securities
III.13	Maturity Profile of Outstanding State Government Securities
III.14	Key Deficit Indicators in 2014-15
IV.1	Forecasting Performance of Budget Estimates and Revised Estimates
IV.2	Partitioning of the Error Component
IV.3	Testing Efficiency of Forecasting of Budget Estimates
IV.4	Tax Devolution Changing Patterns
IV.5	Criteria and Weights Assigned by Various Finance Commissions for Inter-se Determination of Tax Shares
IV.6	Inter-se Share of States in Tax Devolution
IV. 7	Grants-in-Aid to States Recommended by FCs
LIST OF CHARTS
II.1	Deficit Indicators of States (Mean of Pre and Post FRL)
II.2	Reduction in Gross Fiscal Deficit-GSDP during the Fiscal Consolidation Period
II.3	Probability of Successful Fiscal Consolidation
IIII.1	Social Sector Expenditure
III.2	Utilization of WMA and Overdraft by States
IV.1	Key Deficit Indicators - Actuals versus Estimates
IV.2	Box Plot Diagrams of Errors in Various Receipts and Expenditure Items
IV.3	Revenue Transfers from the Centre to the States (As per cent of Centre’s Gross Revenue Receipts)
LIST OF APPENDIX TABLES
1	Major Deficit Indicators of State Governments
2	Devolution and Transfer of Resources from the Centre
3	Development and Non-Development Expenditure
4	Development Expenditure - Major Heads
5	Non-Development Expenditure - Major Heads
6	Development and Non-Development Expenditure - Plan and Non-Plan Components
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 Percent 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
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 - 2012-13 (Accounts)
6	Financing of Gross Fiscal Deficit- As per cent to Total - 2012-13 (Accounts)
7	Financing of Gross Fiscal Deficit- 2013-14 (RE)
8	Financing of Gross Fiscal Deficit- As per cent to Total - 2013-14 (RE)
9	Financing of Gross Fiscal Deficit - 2014-15 (BE)
10	Financing of Gross Fiscal Deficit- As per cent to Total -2014-15 (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	Plan Outlay of State Governments
23	State Government Market Loans
24	Maturity Profile of Outstanding State Government Securities
25	Maturity Profile of Outstanding State Government Securities - As Percentage to Total
26	Availment of WMA and Overdraft from the Reserve Bank
27	Investment Outstanding in Treasury Bills
28	Expenditure on Education - As Ratio to Aggregate Expenditure
29	Expenditure on Medical and Public Health and Family Welfare - As Ratio to Aggregate Expenditure
30	Outstanding Guarantees of State Governments
31	Expenditure on Wages and Salaries
32	Expenditure on Operations and Maintenance
33	Social Sector Expenditure
34	Social Sector Expenditure to Aggregate Disbursements
35	Revenue Receipts of State Governments
36	Revenue Expenditure of the State Governments
37	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