Gujarat State Budget 2004-05 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Gujarat FY 2004-05
Gujarat State Budget 2004-05 Budget at a Glance
Total Receipts
Rs 21,500 crore
+16.2%
Total Expenditure
Rs 30,000 crore
+11.1%
Fiscal Deficit
3.0%
Rs 6,300 crore
Capital Expenditure
Rs 6,000 crore
+15.4%
Tax Revenue
Rs 12,900 crore
+16.2%
Interest Payments
Rs 5,100 crore
17% of expenditure
Gujarat Revenue Receipts 2004-05
Own tax revenue vs non-tax revenue breakdown
Gujarat Expenditure Breakdown 2004-05
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP โ Gujarat 2004-05
The fiscal deficit for Gujarat in 2004-05 is 3.0% of GSDP (Rs 6,300 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 is maintaining fiscal discipline close to the recommended limit.
Interest payments at Rs 5,100 crore consume 17.0% of total expenditure.
Gujarat State Budget 2004-05 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 27,200 crore | 100% |
| 1. Revenue Receipts | Rs 21,500 crore | 79.0% |
| a. Own Tax Revenue | Rs 12,900 crore | 47.4% |
| b. Non-Tax Revenue | Rs 3,440 crore | 12.6% |
| B. Total Expenditure | Rs 30,000 crore | 100% |
| 1. Revenue Expenditure | Rs 24,000 crore | 80.0% |
| 2. Capital Expenditure | Rs 6,000 crore | 20.0% |
| of which: Interest Payments | Rs 5,100 crore | 17.0% |
| C. Fiscal Deficit | Rs 6,300 crore | 3.0% of GSDP |
Source: Gujarat State Budget Documents via PRS India. All figures in Indian Rupees.
Gujarat Budget 2004-05 Analysis & Highlights
Key Highlights
- Gujarat's GSDP crossed Rs 2.1 lakh crore, growing at 13% in nominal terms โ the highest among major Indian states.
- Revenue receipts reached Rs 21,500 crore with own tax revenue crossing Rs 12,900 crore for the first time.
- Capital expenditure of Rs 6,000 crore maintained the infrastructure investment surge with focus on roads and industrial parks.
- Fiscal deficit improved to 3.0% of GSDP, continuing the consolidation trajectory begun in 2003-04.
- Surat emerged as India's fastest-growing city economically, with diamond exports hitting $18 billion and textile output surging.
- Mundra port handled 15 million tonnes in its second full year of operations, exceeding all projections.
- Pharmaceutical exports from Ahmedabad crossed Rs 8,000 crore as US FDA approvals accelerated for Gujarat-based manufacturers.
- Narmada canal reached 15% of planned coverage with Saurashtra segments entering detailed engineering.
- Primary deficit turned negligible at Rs 1,200 crore, signaling near-elimination of non-interest fiscal stress.
- Debt-to-GSDP ratio declined to 27.1%, confirming the sustained deleveraging trend.
- Market borrowings of Rs 4,500 crore funded infrastructure projects at declining interest costs.
- Wind energy installations in Kutch crossed 500 MW as Gujarat began its renewable energy journey.
- Per-capita income reached Rs 38,000, establishing a 30% premium over the national average of Rs 29,000.
Compare Gujarat Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2000-01 | 2001-02 | 2002-03 | 2003-04 | 2004-05 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 27,000 crore | Rs 30,000 crore |
| Revenue Receipts | โ | โ | โ | Rs 18,500 crore | Rs 21,500 crore |
| Capital Expenditure | โ | โ | โ | Rs 5,200 crore | Rs 6,000 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 3.5% | 3.0% |
| Own Tax Revenue | โ | โ | โ | Rs 11,100 crore | Rs 12,900 crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Gujarat State Budget 2004-05
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