Appendix Table IV.1 : Measures of Deficit of The Central Government
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(Rupees crore)
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Year
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Fiscal Deficit
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Primary Deficit
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Variation in
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Revenue
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Net RBI Credit
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Deficit
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Gross
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Net
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Gross
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Net
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to the centre+
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1
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2
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3
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4
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5
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6
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7
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1995-96
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60,243
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42,432
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10,198
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10,806
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19,855
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29,731
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(50,253)
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(208)
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2000-01
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1,18,816
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1,07,854
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19,502
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41,351
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6,705
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85,234
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2001-02
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1,40,955
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1,23,074
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33,495
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51,152
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-5,150
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1,00,162
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2002-03
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1,45,072
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1,33,830
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27,268
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53,628
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-28,399
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1,07,880
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2003-04 (RE)
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1,32,103
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1,21,633
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7,548
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33,077
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-76,065
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99,860
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2004-05 (BE)
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1,37,407
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1,23,889
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7,907
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31,339
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n.a.
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76,171
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As Percentage to GDP at Current Market Prices
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1995-96
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5.07
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3.57
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0.86
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0.91
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1.67
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2.50
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(4.23)
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(0.02)
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2000-01
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5.69
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5.16
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0.93
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1.98
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0.32
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4.08
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2001-02
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6.18
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5.39
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1.47
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2.24
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-0.23
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4.39
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2002-03
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5.90 #
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5.42
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1.10 #
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2.17
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-1.15
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4.40 #
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2003-04 (RE)
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4.80 #
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4.39
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0.30 #
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1.19
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-2.74
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3.60 #
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2004-05 (BE)
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4.40 #
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3.97 @
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0.30 #
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1.00 @
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n.a.
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2.50 #
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Average
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1993-94 to 2002-03
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5.26 *
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4.56
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0.77
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1.71
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0.22
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3.50
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RE:Revised
Estimates.
BE : Budget Estimates.
n.a. : Not available.
(-):Indicates Surplus.
+:As per RBI records after closure of
Government accounts.
#:As per Budget at a Glance for 2004-05.
@:Worked out on the basis of implicit
nominal GDP underlying the Budget Estimates of GFD/GDP ratio of 4.4 per
cent for 2004-05.
*:Net of States’ share in small savings.
Note: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 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 the Centre since
April 1, 1997 adjusted for 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
btetween the gross fiscal deficit and interest payments. The net primary
deficit denotes net fiscal deficit minus net interest payments.
2. Figures in parentheses exclude States’ share in small savings as per
the new system of accounting followed since 1999-2000.
Source :Central Government’s Budget Documents and the Reserve Bank
records. |
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