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PDF document (274 kb)
Date : Jan 16, 2023
Contents
Foreword
List of Abbreviations
Chapter I: Overview
Chapter II: Fiscal Position of the State Governments
1. Introduction
2. Key Fiscal Indicators
3. Receipts
4. Expenditure
5. Actual Outcome in 2022-23 So Far and Outlook
6. Financing of GFD and Market Borrowing by State Governments and UTs
7. Outstanding Liabilities
8. Conclusion
Annex I: Fiscal Position of 31 States and UTs
Annex II: Fiscal Reform by States
Chapter III: Capital Formation in India - The Role of States
1. Introduction
2. Capital Expenditure by States
3. Human Capital Formation: Spending on Education and Health
4. Investment in Infrastructure
5. Policy Incentives and Governance Reforms by States
6. Spillover Effects of State Capex
7. Conclusions
Chapter IV: The Way Forward
References
Explanatory Note on Data Sources and Methodology
e-STATES Database
LIST OF BOXES
II.1 States’ Fiscal Marksmanship
II.2 Goods and Services Tax (GST) - Performance so far and the Road Ahead
III.1 A Composite Index of Quality of Expenditure of States
III.2 Capex and Productivity Growth – A State-level and Sectoral Analysis
LIST OF TABLES
II.1 Major Deficit Indicators - All States and Union Territories with Legislature
II.2 Deficit Indicators - State-wise
II.3 Aggregate Receipts of State Governments and UTs
II.4 Expenditure Pattern of State Governments and UTs
II.5 Market Borrowings of State Governments
II.6 Maturity Profile of Outstanding State Government Securities
II.7 Investment in CSF/GRF by States and UTs
II.8 Outstanding Liabilities of State Governments and UTs
II.9 Composition of Outstanding Liabilities of State Governments and UTs
II.10 Guarantees issued by State Governments
III.1 Some Recent Innovative Policy Initiatives Undertaken by the States
LIST OF CHARTS
II.1 Key Fiscal Indicators
II.2 Increment in 2022-23 (BE) vis-à-vis 2021-22 (RE)
II.3 Committed Expenditure
II.4 Social Sector Expenditure
II.5 Trends in Revenue Receipts of the States during April-October
II.6 Growth in Expenditure of States during April-October
II.7 States’ Gross Market Borrowings
II.8 State-wise Net Market Borrowing
II.9 SGSs – Maturity and Yield Spread
II.10 Debt and Interest Burden
III.1 Capital Formation in India and World
III.2 Capital Outlay - Centre vis-à-vis States
III.3 Quality of Expenditure: Pre-and Post-Covid-19
III.4 Deviation from Budget Estimates: Revenue vs Capital Expenditure
III.5 State-wise Capex Cut
III.6 States’ Capital Outlay - Monthly
III.7 Capital Outlay - State-wise
III.8 Composition of States’ Capex
III.9 Social Sector Capex of States – Health and Education
III.10 Capital Outlay on Infrastructure by States
III.11 FDI Flows to India
III.12 Ease of Doing Business - State-wise Improvement
III.13 India Innovation Index 2021
III.14 LEADS 2022 Grading of States
III.15 Spillover Effect of Capital Outlay
III.16a Impulse Response Function: Response of Per Capita GSDP to Per Capita Own Capital Outlay and Per Capita Capital Outlay by Other States
III.16b Cumulative Impulse Response Function: Cumulative Response of Per Capita GSDP to Per Capita Own Capital Outlay and Per Capita Capital Outlay by Other States
LIST OF APPENDIX TABLES FOR STATES’ BUDGETS 2022-23
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 of Total
11. Composition of Outstanding Liabilities of State Governments and UTs
12. Composition of Outstanding Liabilities of State Governments and UTs - As Proportion to Total
13. State Government Market Borrowings
LIST OF STATEMENTS AND APPENDICES FOR STATES’ BUDGETS 2022-23
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 – 2020-21 (Accounts)
6. Financing of Gross Fiscal Deficit – As per cent of Total – 2020-21 (Accounts)
7. Financing of Gross Fiscal Deficit – 2021-22 (RE)
8. Financing of Gross Fiscal Deficit – As per cent of Total – 2021-22 (RE)
9. Financing of Gross Fiscal Deficit – 2022-23 (BE)
10. Financing of Gross Fiscal Deficit – As per cent of Total – 2022-23 (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 per cent 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 per cent of Total
25. Investment Outstanding in Treasury Bills
26. Expenditure on Education - As per cent of Aggregate Expenditure
27. Expenditure on Medical and Public Health and Family Welfare - As per cent of 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 as per cent of Total Disbursement
33. Revenue Receipts of State Governments and UTs
34. Revenue Expenditure of State Governments and UTs
35. Development Expenditure: Select Indicators
36. Subsidies
37. States' Expenditure on Medical and Public Health, Family Welfare and Water Supply and Sanitation
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
NOTE TO APPENDICES

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