(Rupees crore)

Year

          Fiscal Deficit

          Primary Deficit

Net RBI

Revenue

Gross

Net

Gross

Net

Credit +

Deficit

1

2

3

4

5

6

7

1992-93

40,173

30,232

9,098

11,644

4,257

18,574

(35,909)

(4,834)

1993-94

60,257

45,994

23,516

24,331

260

32,716

(55,257)

(18,516)

1994-95

57,703

40,313

13,643

12,050

2,130

31,029

(48,030)

(3,970)

1995-96

60,243

42,432

10,198

10,806

19,855

29,731

(50,253)

(208)

1996-97

66,733

46,394

7,255

9,022

1,934

32,654

(56,242)

(-3236)

1997-98

88,937

63,062

23,300

22,748

12,914

46,449

(73,204)

(7,567)

1998-99

1,13,349

79,944

35,466

32,138

11,800

66,976

(89,560)

(11,678)

1999-2000

1,04,716

89,910

14,467

33,539

-5,588

67,596

2000-01

1,18,816

1,07,854

19,502

40,904

6,705

85,234

2001-02

1,40,955

1,23,074

33,495

51,129

-5,150

1,00,162

2002-03(RE)

1,45,466

1,31,697

29,803

56,605

-28,399

1,04,712

2003-04(BE)

1,53,637

1,41,375

30,414

57,312

..

1,12,292

As Percentage to GDP at Current Market Prices

1992-93

5.37

4.04

1.22

1.56

0.57

2.48

(4.80)

(0.65)

1993-94

7.01

5.35

2.74

2.83

0.03

3.81

(6.43)

(2.15)

1994-95

5.70

3.98

1.35

1.19

0.21

3.06

(4.74)

(0.39)

1995-96

5.07

3.57

0.86

0.91

1.67

2.50

(4.23)

(0.02)

1996-97

4.88

3.39

0.53

0.66

0.14

2.39

(4.11)

-(0.24)

1997-98

5.84

4.14

1.53

1.49

0.85

3.05

(4.81)

(0.50)

1998-99

6.51

4.59

2.04

1.85

0.68

3.85

(5.14)

(0.67)

1999-2000

5.41

4.64

0.75

1.73

-0.29

3.49

2000-01

5.65

5.13

0.93

1.94

0.32

4.05

2001-02

6.14

5.36

1.46

2.23

-0.22

4.36

2002-03(RE)

5.88

5.33

1.21

2.29

-1.15

4.24

2003-04(BE)

5.60 #

5.15 @

1.11 @

2.09 @

..

4.09 @

Average

1992-93 to2001-02

5.15 *

4.42

0.73 *

1.64

0.40

3.30

RE Revised Estimates.
BE Budget Estimates.
.. Not Available.
(-) Indicates Surplus.
+ As per RBI records after closure of Government accounts.
# As per the Union Budget Speech 2003-2004.
@ Worked out on the basis of the implicit nominal GDP underlying the Budget Estimates of GFD/GDP ratio of 5.6 per cent for 2003-2004.
* Net of States’ share in small savings.
Notes :
1. The revenue deficit denotes the difference between revenue receipts and revenue expenditure. The net RBI credit to the Central Government is the sum of the increase in the RBI’s holdings of i ) Treasury Bills, ii) Government of India dated securities, iii) rupee coins and iv) Loans and Advances from the Reserve Bank to Centre since April 1, 1997 adjusted for changes in Centre’s cash balances with the Reserve Bank. The gross fiscal deficit is the excess of total expenditure including loans, net of recoveries over revenue receipts (including external grants) and non-debt capital receipts. The net fiscal deficit is the difference between gross fiscal deficit and net lending. The gross primary deficit is the difference between the gross fiscal deficit and interest payments. The net primary deficit denotes net fiscal deficit minus net interest payments.
2. Figures in parentheses are excluding States’ share in small savings as per the new system of accounting followed since 1999-2000.
Source : Central Government Budget Documents and Reserve Bank Records.