Gujarat State Budget 2022-23 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Gujarat FY 2022-23
Gujarat State Budget 2022-23 Budget at a Glance
Total Receipts
Rs 2.08 lakh crore
+16.9%
Total Expenditure
Rs 2.68 lakh crore
+16.5%
Fiscal Deficit
2.1%
Rs 42,000 crore
Capital Expenditure
Rs 50,000 crore
+19.0%
Tax Revenue
Rs 1.35 lakh crore
+17.4%
Interest Payments
Rs 28,000 crore
10% of expenditure
Gujarat Revenue Receipts 2022-23
Own tax revenue vs non-tax revenue breakdown
Gujarat Expenditure Breakdown 2022-23
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP โ Gujarat 2022-23
The fiscal deficit for Gujarat in 2022-23 is 2.1% of GSDP (Rs 42,000 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 28,000 crore consume 10.4% of total expenditure.
Gujarat State Budget 2022-23 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 2.56 lakh crore | 100% |
| 1. Revenue Receipts | Rs 2.08 lakh crore | 81.3% |
| a. Own Tax Revenue | Rs 1.35 lakh crore | 52.7% |
| b. Non-Tax Revenue | Rs 73,000 crore | 28.5% |
| B. Total Expenditure | Rs 2.68 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 2.18 lakh crore | 81.3% |
| 2. Capital Expenditure | Rs 50,000 crore | 18.7% |
| of which: Interest Payments | Rs 28,000 crore | 10.4% |
| C. Fiscal Deficit | Rs 42,000 crore | 2.1% of GSDP |
Source: Gujarat State Budget Documents via PRS India. All figures in Indian Rupees.
Gujarat Budget 2022-23 Analysis & Highlights
Key Highlights
- Total actual expenditure at Rs 2.4 lakh crore with capital expenditure at Rs 48,000 crore.
- State GST collections of Rs 65,000 crore, growing 18% year-on-year on post-pandemic recovery.
- Semiconductor manufacturing facility announced in Dholera with Rs 1.5 lakh crore total investment.
- Fiscal deficit at actuals came in at 1.5% of GSDP, significantly below budgeted 2.2%.
- Surat diamond industry processed $22 billion in rough diamonds despite global demand fluctuations.
- Capital expenditure utilization at 85%, reflecting efficient project execution.
- Narmada canal network reached 70% of planned coverage serving 18 lakh hectares.
- Ahmedabad-Mumbai bullet train project progressed with Gujarat sections at 40% completion.
- Per-capita income crossed Rs 2 lakh for the first time, 45% above national average.
- Renewable energy capacity reached 18 GW with major wind installations in Kutch.
Compare Gujarat Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 2.3 lakh crore | Rs 2.68 lakh crore |
| Revenue Receipts | โ | โ | โ | Rs 1.78 lakh crore | Rs 2.08 lakh crore |
| Capital Expenditure | โ | โ | โ | Rs 42,000 crore | Rs 50,000 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 2.2% | 2.1% |
| Own Tax Revenue | โ | โ | โ | Rs 1.15 lakh crore | Rs 1.35 lakh crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Gujarat State Budget 2022-23
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