Gujarat State Budget 2002-03 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Gujarat FY 2002-03
Gujarat State Budget 2002-03 Budget at a Glance
Total Receipts
Rs 16,200 crore
+9.5%
Total Expenditure
Rs 24,300 crore
+10.5%
Fiscal Deficit
4.0%
Rs 6,720 crore
Capital Expenditure
Rs 4,800 crore
+14.3%
Tax Revenue
Rs 9,720 crore
+9.5%
Interest Payments
Rs 3,920 crore
16% of expenditure
Gujarat Revenue Receipts 2002-03
Own tax revenue vs non-tax revenue breakdown
Gujarat Expenditure Breakdown 2002-03
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP โ Gujarat 2002-03
The fiscal deficit for Gujarat in 2002-03 is 4.0% of GSDP (Rs 6,720 crore), reflecting the state's borrowing needs to fund development programmes.
States are expected to maintain fiscal deficit within 3% of GSDP as per the FRBM Act. Gujarat's deficit is above this threshold, driven by higher capital spending needs.
Interest payments at Rs 3,920 crore consume 16.1% of total expenditure.
Gujarat State Budget 2002-03 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 20,800 crore | 100% |
| 1. Revenue Receipts | Rs 16,200 crore | 77.9% |
| a. Own Tax Revenue | Rs 9,720 crore | 46.7% |
| b. Non-Tax Revenue | Rs 2,592 crore | 12.5% |
| B. Total Expenditure | Rs 24,300 crore | 100% |
| 1. Revenue Expenditure | Rs 19,500 crore | 80.2% |
| 2. Capital Expenditure | Rs 4,800 crore | 19.8% |
| of which: Interest Payments | Rs 3,920 crore | 16.1% |
| C. Fiscal Deficit | Rs 6,720 crore | 4.0% of GSDP |
Source: Gujarat State Budget Documents via PRS India. All figures in Indian Rupees.
Gujarat Budget 2002-03 Analysis & Highlights
Key Highlights
- Gujarat's 2002-03 budget reflected the dual challenge of continuing earthquake reconstruction while managing the aftermath of the February 2002 communal violence.
- Revenue receipts rose to Rs 16,200 crore, a 9.5% increase driven by recovery in commercial activity outside affected areas.
- Tax revenue reached Rs 9,720 crore as Surat's diamond and textile industries posted strong export growth.
- Capital expenditure remained elevated at Rs 4,800 crore with earthquake housing reconstruction reaching peak disbursement.
- Fiscal deficit held at 4.0% of GSDP as reconstruction borrowing continued alongside normal development expenditure.
- Narendra Modi's first full budget prioritized infrastructure development and industrial investment promotion.
- Ahmedabad's pharmaceutical industry expanded, with companies like Torrent, Cadila, and Zydus investing Rs 2,000 crore in new capacity.
- The first Vibrant Gujarat concept was conceived, laying groundwork for the 2003 inaugural summit.
- Total outstanding debt climbed to Rs 49,000 crore, but GSDP growth of 12% kept the debt-to-GSDP ratio from deteriorating further.
- Interest payments of Rs 3,920 crore remained the single largest non-development expenditure item.
- Narmada canal construction progressed with Rs 1,800 crore allocated for main canal extension toward Saurashtra.
- Agriculture recovered strongly with 7% growth as monsoon rains normalized and irrigation systems were restored.
- Market borrowings of Rs 3,800 crore funded both reconstruction and new industrial infrastructure projects.
Compare Gujarat Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2000-01 | 2001-02 | 2002-03 |
|---|---|---|---|
| Total Expenditure | โ | Rs 22,000 crore | Rs 24,300 crore |
| Revenue Receipts | โ | Rs 14,800 crore | Rs 16,200 crore |
| Capital Expenditure | โ | Rs 4,200 crore | Rs 4,800 crore |
| Fiscal Deficit (% GSDP) | โ | 4.0% | 4.0% |
| Own Tax Revenue | โ | Rs 8,880 crore | Rs 9,720 crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Gujarat State Budget 2002-03
The Gujarat state budget is the annual financial plan presented in the state legislature. It covers all revenue receipts, expenditure allocations across departments, and fiscal deficit management. State budgets are critical because states handle key development areas including education, health, agriculture, and infrastructure.
Gujarat Revenue Sources
State revenue comes from three sources: own tax revenue (state GST, stamp duty, excise, vehicle tax), non-tax revenue (fees, fines, interest), and transfers from the Centre (share of central taxes as per Finance Commission recommendations, plus grants-in-aid for specific schemes).
Fiscal Deficit and State Borrowing
Under the FRBM framework, states target a fiscal deficit of 3% of GSDP. States can borrow from the market via State Development Loans (SDLs), and the central government also provides loans. The RBI manages the borrowing calendar for states to ensure orderly market conditions.
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Compare Gujarat with other states
Side-by-side comparison of fiscal metrics across Indian states