Gujarat State Budget 2025-26 Analysis
Budget EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Gujarat FY 2025-26
Gujarat State Budget 2025-26 Budget at a Glance
Total Receipts
Rs 2.74 lakh crore
+17.3%
Total Expenditure
Rs 3.32 lakh crore
+17.0%
Fiscal Deficit
2.0%
Rs 58,397 crore
Capital Expenditure
Rs 78,092 crore
+8.6%
Tax Revenue
Rs 1.3 lakh crore
+16.1%
Interest Payments
Rs 31,200 crore
9% of expenditure
Gujarat Revenue Receipts 2025-26
Own tax revenue vs non-tax revenue breakdown
Gujarat Expenditure Breakdown 2025-26
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP โ Gujarat 2025-26
The fiscal deficit for Gujarat in 2025-26 is 2.0% of GSDP (Rs 58,397 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 31,200 crore consume 9.4% of total expenditure.
Gujarat State Budget 2025-26 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 3.63 lakh crore | 100% |
| 1. Revenue Receipts | Rs 2.74 lakh crore | 75.4% |
| a. Own Tax Revenue | Rs 1.3 lakh crore | 35.8% |
| b. Non-Tax Revenue | Rs 16,000 crore | 4.4% |
| B. Total Expenditure | Rs 3.32 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 2.54 lakh crore | 76.5% |
| 2. Capital Expenditure | Rs 78,092 crore | 23.5% |
| of which: Interest Payments | Rs 31,200 crore | 9.4% |
| C. Fiscal Deficit | Rs 58,397 crore | 2.0% of GSDP |
Source: Gujarat State Budget Documents via PRS India. All figures in Indian Rupees.
Gujarat Department-wise Expenditure 2025-26
Top departments by allocation in Gujarat for 2025-26
| Department โ | Revenue โ | Capital โ | Total โ | Share |
|---|---|---|---|---|
1. Education | Rs 38,000 crore | Rs 5,000 crore | Rs 43,000 crore | 12.9% |
2. Transport & Roads | Rs 8,000 crore | Rs 18,000 crore | Rs 26,000 crore | 7.8% |
3. Health & Family Welfare | Rs 18,000 crore | Rs 4,000 crore | Rs 22,000 crore | 6.6% |
4. Rural Development | Rs 16,000 crore | Rs 5,000 crore | Rs 21,000 crore | 6.3% |
5. Water Supply & Sanitation | Rs 8,000 crore | Rs 12,000 crore | Rs 20,000 crore | 6.0% |
6. Energy | Rs 14,000 crore | Rs 4,000 crore | Rs 18,000 crore | 5.4% |
7. Agriculture & Allied | Rs 14,000 crore | Rs 3,000 crore | Rs 17,000 crore | 5.1% |
8. Urban Development | Rs 10,000 crore | Rs 6,000 crore | Rs 16,000 crore | 4.8% |
9. Police & Home | Rs 12,000 crore | Rs 2,000 crore | Rs 14,000 crore | 4.2% |
10. Water Resources & Irrigation | Rs 5,000 crore | Rs 8,000 crore | Rs 13,000 crore | 3.9% |
Gujarat Budget 2025-26 Analysis & Highlights
Key Highlights
- Gujarat Budget 2025-26 targets total expenditure of Rs 3.2 lakh crore, maintaining strong capital spending.
- State GST collections projected at Rs 95,000 crore, reflecting deep industrialization.
- GIFT City financial hub allocated Rs 5,000 crore for Phase 2 expansion including IFSC operations.
- Capital expenditure at Rs 65,000 crore โ highest capital-to-total expenditure ratio among major states.
- Fiscal deficit budgeted at 2.0% of GSDP, the most disciplined among large Indian states.
- Agriculture allocation of Rs 18,000 crore supports Narmada canal network expansion to Saurashtra and Kutch.
- Industrial incentive package of Rs 10,000 crore targets semiconductor, EV, and green hydrogen manufacturing.
- Dholera Special Investment Region received Rs 4,000 crore for trunk infrastructure development.
- Education spending of Rs 35,000 crore includes IIT Gandhinagar expansion and new medical colleges.
- Port development of Rs 6,000 crore spans Mundra, Pipavav, and new Nargol LNG terminal.
- Renewable energy capacity target of 30 GW with Rs 8,000 crore in transmission infrastructure.
- Per-capita income at Rs 2.5 lakh, among the highest for major states.
Compare Gujarat Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2021-22 | 2022-23 | 2023-24 | 2024-25 | 2025-26 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 2.84 lakh crore | Rs 3.32 lakh crore |
| Revenue Receipts | โ | โ | โ | Rs 2.33 lakh crore | Rs 2.74 lakh crore |
| Capital Expenditure | โ | โ | โ | Rs 71,921 crore | Rs 78,092 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 1.9% | 2.0% |
| Own Tax Revenue | โ | โ | โ | Rs 1.12 lakh crore | Rs 1.3 lakh crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Gujarat State Budget 2025-26
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