Gujarat State Budget 2023-24 Analysis
Revised EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Gujarat FY 2023-24
Gujarat State Budget 2023-24 Budget at a Glance
Total Receipts
Rs 2.24 lakh crore
+7.8%
Total Expenditure
Rs 2.48 lakh crore
-7.6%
Fiscal Deficit
1.0%
Rs 23,493 crore
Capital Expenditure
Rs 56,971 crore
+13.9%
Tax Revenue
Rs 1.04 lakh crore
-23.0%
Interest Payments
Rs 25,000 crore
10% of expenditure
Gujarat Revenue Receipts 2023-24
Own tax revenue vs non-tax revenue breakdown
Gujarat Expenditure Breakdown 2023-24
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP โ Gujarat 2023-24
The fiscal deficit for Gujarat in 2023-24 is 1.0% of GSDP (Rs 23,493 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 25,000 crore consume 10.1% of total expenditure.
Gujarat State Budget 2023-24 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 2.65 lakh crore | 100% |
| 1. Revenue Receipts | Rs 2.24 lakh crore | 84.7% |
| a. Own Tax Revenue | Rs 1.04 lakh crore | 39.3% |
| b. Non-Tax Revenue | Rs 12,000 crore | 4.5% |
| B. Total Expenditure | Rs 2.48 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 1.91 lakh crore | 77.0% |
| 2. Capital Expenditure | Rs 56,971 crore | 23.0% |
| of which: Interest Payments | Rs 25,000 crore | 10.1% |
| C. Fiscal Deficit | Rs 23,493 crore | 1.0% of GSDP |
Source: Gujarat State Budget Documents via PRS India. All figures in Indian Rupees.
Gujarat Department-wise Expenditure 2023-24
Top departments by allocation in Gujarat for 2023-24
| Department โ | Revenue โ | Capital โ | Total โ | Share |
|---|---|---|---|---|
1. Education | Rs 29,000 crore | Rs 3,500 crore | Rs 32,500 crore | 13.1% |
2. Transport & Roads | Rs 6,000 crore | Rs 13,000 crore | Rs 19,000 crore | 7.7% |
3. Health & Family Welfare | Rs 14,000 crore | Rs 3,000 crore | Rs 17,000 crore | 6.9% |
4. Rural Development | Rs 12,000 crore | Rs 3,500 crore | Rs 15,500 crore | 6.3% |
5. Water Supply & Sanitation | Rs 6,000 crore | Rs 9,000 crore | Rs 15,000 crore | 6.1% |
6. Energy | Rs 10,500 crore | Rs 3,000 crore | Rs 13,500 crore | 5.5% |
7. Agriculture & Allied | Rs 10,500 crore | Rs 2,000 crore | Rs 12,500 crore | 5.0% |
8. Urban Development | Rs 7,000 crore | Rs 4,000 crore | Rs 11,000 crore | 4.4% |
9. Police & Home | Rs 9,500 crore | Rs 1,200 crore | Rs 10,700 crore | 4.3% |
10. Water Resources & Irrigation | Rs 4,000 crore | Rs 6,000 crore | Rs 10,000 crore | 4.0% |
Gujarat Budget 2023-24 Analysis & Highlights
Key Highlights
- Revised estimates showed expenditure at Rs 2.65 lakh crore, 5% above initial budget.
- State GST collections reached Rs 75,000 crore, growing 15% year-on-year.
- Petroleum refining output from Jamnagar touched record levels, boosting associated revenues.
- Capital expenditure utilization at 88%, the highest among major Indian states.
- GIFT City operations generated Rs 500 crore in regulatory fees and land lease income.
- Agricultural output grew 4% as Narmada canal network enabled second crop in Saurashtra.
- Fiscal deficit at revised estimates came in at 2.0% of GSDP.
- Ahmedabad real estate market buoyancy pushed stamp duty collections 20% above projections.
- Port cargo volumes at 500 million metric tons, 40% of India's total maritime trade.
- Education spending at Rs 32,000 crore included new Forensic Sciences University campus.
Compare Gujarat Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 2.68 lakh crore | Rs 2.48 lakh crore |
| Revenue Receipts | โ | โ | โ | Rs 2.08 lakh crore | Rs 2.24 lakh crore |
| Capital Expenditure | โ | โ | โ | Rs 50,000 crore | Rs 56,971 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 2.1% | 1.0% |
| Own Tax Revenue | โ | โ | โ | Rs 1.35 lakh crore | Rs 1.04 lakh crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Gujarat State Budget 2023-24
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