Gujarat State Budget 2021-22 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Gujarat FY 2021-22
Gujarat State Budget 2021-22 Budget at a Glance
Total Receipts
Rs 1.78 lakh crore
+31.9%
Total Expenditure
Rs 2.3 lakh crore
+19.8%
Fiscal Deficit
2.2%
Rs 38,000 crore
Capital Expenditure
Rs 42,000 crore
+31.3%
Tax Revenue
Rs 1.15 lakh crore
+38.6%
Interest Payments
Rs 26,000 crore
11% of expenditure
Gujarat Revenue Receipts 2021-22
Own tax revenue vs non-tax revenue breakdown
Gujarat Expenditure Breakdown 2021-22
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP โ Gujarat 2021-22
The fiscal deficit for Gujarat in 2021-22 is 2.2% of GSDP (Rs 38,000 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 26,000 crore consume 11.3% of total expenditure.
Gujarat State Budget 2021-22 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 2.18 lakh crore | 100% |
| 1. Revenue Receipts | Rs 1.78 lakh crore | 81.7% |
| a. Own Tax Revenue | Rs 1.15 lakh crore | 52.8% |
| b. Non-Tax Revenue | Rs 63,000 crore | 28.9% |
| B. Total Expenditure | Rs 2.3 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 1.88 lakh crore | 81.7% |
| 2. Capital Expenditure | Rs 42,000 crore | 18.3% |
| of which: Interest Payments | Rs 26,000 crore | 11.3% |
| C. Fiscal Deficit | Rs 38,000 crore | 2.2% of GSDP |
Source: Gujarat State Budget Documents via PRS India. All figures in Indian Rupees.
Gujarat Budget 2021-22 Analysis & Highlights
Key Highlights
- Gujarat's economy rebounded vigorously from the pandemic, with GSDP growing approximately 17% in nominal terms to cross Rs 18 lakh crore.
- Revenue receipts surged to approximately Rs 1,60,000 crore as GST collections hit record levels on pent-up manufacturing demand.
- Capital expenditure exceeded Rs 50,000 crore with renewed focus on highway construction, Dholera SIR, and green hydrogen infrastructure.
- Fiscal deficit at approximately 2.2% of GSDP โ a swift return to pre-pandemic fiscal discipline.
- Mundra port handled 155 million tonnes as global supply chain disruptions redirected cargo toward efficient ports.
- Pharmaceutical industry posted record Rs 40,000 crore in exports, benefiting from global demand for Indian-manufactured vaccines and APIs.
- Surat diamond industry recovered to process $30 billion in rough diamonds as global luxury demand rebounded strongly.
- Gujarat became India's largest renewable energy state by installed capacity, crossing 15,000 MW combined solar and wind.
- Tata Motors acquired Ford's Sanand plant for Rs 900 crore to manufacture electric vehicles โ reviving the automotive cluster.
- GIFT City IFSC crossed 250 regulated entities with $80 billion in cumulative transaction volumes.
- Narmada canal reached 75% coverage with Kutch farmers receiving canal water for the first time in history.
- Vibrant Gujarat 2022 summit generated Rs 32 lakh crore in MoU commitments, focusing on green hydrogen and semiconductors.
- Per-capita income crossed Rs 2.1 lakh, maintaining Gujarat's significant premium over the national average.
Compare Gujarat Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2017-18 | 2018-19 | 2019-20 | 2020-21 | 2021-22 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 1.92 lakh crore | Rs 2.3 lakh crore |
| Revenue Receipts | โ | โ | โ | Rs 1.35 lakh crore | Rs 1.78 lakh crore |
| Capital Expenditure | โ | โ | โ | Rs 32,000 crore | Rs 42,000 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 3.3% | 2.2% |
| Own Tax Revenue | โ | โ | โ | Rs 83,000 crore | Rs 1.15 lakh crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Gujarat State Budget 2021-22
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