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ప్రచురించబడిన తేదీ మే 12, 2017

Foreword
List of Abbreviations
Chapter I: Overview
Chapter II: Fiscal Position of State Governments
1.	Introduction
2.	Accounts: 2014-15
3.	Revised Estimates: 2015-16
4.	Budget Estimates: 2016-17
5.	Budget Estimates: 2017-18
6.	Outstanding Liabilities of State Governments
7.	Debt Sustainability of Indian States
8.	Concluding Observations
Chapter III: Goods and Services Tax: A Game Changer
1.	Introduction
2.	The Concept
3.	The Cross Country Experience
4.	The Indian Context – Overview and Status
5.	Experience of Indian States with VAT
6.	Concluding Observations
Chapter IV: Issues and Perspectives
1.	Introduction
2.	Debate on the Revenue Neutral Rate
3.	Dispute Resolution Mechanism and IT Infrastructure
4.	Administrative Control of GST
5.	Fiscal Federalism and GST
6.	Central Transfers to States
7.	Implications of Special Levies
8.	Concluding Observations
Chapter V: Way Forward
Annex I – GST Council Meeting and Major Decisions – Timeline
Annex II – Stochastic Frontier Analysis – Methodology
References
Explanatory Note on Data Sources and Methodology
LIST OF BOXES
II.1	Relaxation of Fiscal Rules for States
II.2	Debt Sustainability of Indian States – Inter-Temporal Budget Constraint Approach
III.1	What GST Implies for Various Economic Agents
III.2	Impact on Inflation
III.3	Integrated Goods and Services Tax (IGST)
IV.1	Can there be an Optimal Rate for Taxing Commodities
IV.2	Goods and Services Tax Network (GSTN)
LIST OF TABLES
II.1	Major Deficit Indicators of State Governments
II.2	Fiscal Imbalances in Non-Special and Special Category States
II.3	Aggregate Receipts of State Governments
II.4	Expenditure Pattern of State Governments
II.5	Variation in Major Items
II.6	Deficit Indicators of State Governments
II.7	Decomposition and Financing Pattern of Gross Fiscal Deficit
II.8	Composition of Expenditure on Social Services (Revenue and Capital Accounts)
II.9	Major Deficit Indicators of State Governments
II.10	Outstanding Liabilities of State Governments
II.11	Composition of Outstanding Liabilities of State Governments
II.12	Maturity Profile of Outstanding State Government Securities
II.13	Fiscal Sustainability of All State Governments – Indicator-based Analysis
III.1	Taxes subsumed under GST
III.2	VAT and GST
III.3	VAT/GST Rates – Select Countries
III.4	GST Revision in Singapore
IV.1	Revenue Neutral Rate
IV.2	Share of Revenue of State Governments
IV.3	Cess imposed by the Central Government
IV.4	Surcharge Imposed by Central Government
IV.5	Special Levies by the Central Government
LIST OF CHARTS
II.1	Major Deficit Indicators
II.2	Gross Fiscal Deficit
II.3	Committed Expenditure
II.4	Social Sector Expenditure
II.5	Debt and Interest Burden
II.6	Utilisation of WMA and Overdraft by States
III.1	VAT/GST Rates
III.2	State Revenue Portfolios
III.3	The Growth-and-Volatility Efficiency Frontier: Sales Tax – NSC States
III.4	The Growth-and-Volatility Efficiency Frontier: Sales Tax – SC States
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 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
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 – 2014-15 (Accounts)
6	Financing of Gross Fiscal Deficit- As per cent to Total – 2014-15 (Accounts)
7	Financing of Gross Fiscal Deficit- 2015-16 (RE)
8	Financing of Gross Fiscal Deficit- As per cent to Total – 2015-16 (RE)
9	Financing of Gross Fiscal Deficit – 2016-17 (BE)
10	Financing of Gross Fiscal Deficit- As per cent to Total -2016-17 (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 Expenditure
33	Revenue Receipts of State Governments
34	Revenue Expenditure of the State Governments
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