Haryana State Budget 2007-08 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Haryana FY 2007-08
Haryana State Budget 2007-08 Budget at a Glance
Total Receipts
Rs 17,800 crore
(excl. borrowings)
Total Expenditure
Rs 22,800 crore
Fiscal Deficit
2.1%
Rs 3,200 crore
Capital Expenditure
Rs 3,600 crore
Tax Revenue
Rs 12,100 crore
Net to Centre
Interest Payments
Rs 2,800 crore
12% of expenditure
Haryana Revenue Receipts 2007-08
Own tax revenue vs non-tax revenue breakdown
Haryana Expenditure Breakdown 2007-08
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP โ Haryana 2007-08
The fiscal deficit for Haryana in 2007-08 is 2.1% of GSDP (Rs 3,200 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. Haryana is maintaining fiscal discipline close to the recommended limit.
Interest payments at Rs 2,800 crore consume 12.3% of total expenditure.
Haryana State Budget 2007-08 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 23,600 crore | 100% |
| 1. Revenue Receipts | Rs 17,800 crore | 75.4% |
| a. Own Tax Revenue | Rs 12,100 crore | 51.3% |
| b. Non-Tax Revenue | Rs 2,800 crore | 11.9% |
| B. Total Expenditure | Rs 22,800 crore | 100% |
| 1. Revenue Expenditure | Rs 19,200 crore | 84.2% |
| 2. Capital Expenditure | Rs 3,600 crore | 15.8% |
| of which: Interest Payments | Rs 2,800 crore | 12.3% |
| C. Fiscal Deficit | Rs 3,200 crore | 2.1% of GSDP |
Source: Haryana State Budget Documents via PRS India. All figures in Indian Rupees.
Haryana Budget 2007-08 Analysis & Highlights
Key Highlights
- Total expenditure approximately Rs 28,000 crore under Bhupinder Singh Hooda's Congress government.
- Gurgaon (now Gurugram) IT and business services boom driving state revenue growth.
- Automobile manufacturing hub โ Maruti Suzuki, Hero Honda anchoring the Gurgaon-Manesar-Dharuhera corridor.
- Agriculture remained significant โ Haryana contributing substantially to national wheat and rice procurement.
- Sixth Pay Commission preparations increasing salary cost projections.
- Education spending at Rs 4,500 crore โ Haryana's literacy rate above the national average.
- Health allocation at Rs 2,200 crore with limited public health infrastructure in rural areas.
- Capital expenditure at Rs 4,500 crore โ Kundli-Manesar-Palwal (KMP) Expressway under construction.
- NCR development driving real estate boom in Gurgaon, Faridabad, and Sonipat.
- Industrial development in Panipat (refinery, textiles), Hisar (steel), and Karnal (agri-processing).
- Revenue profile diversified โ stamp duty from NCR real estate becoming major revenue source.
- Sports infrastructure investment ahead of 2010 Commonwealth Games preparation.
- Haryana Urban Development Authority (HUDA) driving planned urbanisation in NCR belt.
- Power availability improving with Rajiv Gandhi Thermal Power Station expansion.
Compare Haryana Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2003-04 | 2004-05 | 2005-06 | 2006-07 | 2007-08 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | โ | Rs 22,800 crore |
| Revenue Receipts | โ | โ | โ | โ | Rs 17,800 crore |
| Capital Expenditure | โ | โ | โ | โ | Rs 3,600 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | โ | 2.1% |
| Own Tax Revenue | โ | โ | โ | โ | Rs 12,100 crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Haryana State Budget 2007-08
The Haryana 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.
Haryana 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 Haryana with other states
Side-by-side comparison of fiscal metrics across Indian states