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Himachal Pradesh State Budget 2008-09 Analysis

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Total expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Himachal Pradesh FY 2008-09

Himachal Pradesh State Budget 2008-09 Budget at a Glance

Total Receipts

Rs 7,600 crore

+11.8%

Total Expenditure

Rs 12,900 crore

+14.2%

Fiscal Deficit

4.8%

Rs 1,700 crore

Capital Expenditure

Rs 2,100 crore

+16.7%

Tax Revenue

Rs 3,300 crore

+13.8%

Interest Payments

Rs 2,400 crore

19% of expenditure

Himachal Pradesh Revenue Receipts 2008-09

Own tax revenue vs non-tax revenue breakdown

Tax Revenue
Rs 3,300 crore (71.7%)
Non-Tax Revenue
Rs 1,300 crore (28.3%)

Himachal Pradesh Expenditure Breakdown 2008-09

Revenue vs Capital spending and department allocation

Revenue vs Capital Split

Revenue Expenditure 83.7%
Capital Expenditure 16.3%

Fiscal Deficit as % of GSDP — Himachal Pradesh 2008-09

The fiscal deficit for Himachal Pradesh in 2008-09 is 4.8% of GSDP (Rs 1,700 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. Himachal Pradesh's deficit is above this threshold, driven by higher capital spending needs.

Interest payments at Rs 2,400 crore consume 18.6% of total expenditure.

Himachal Pradesh State Budget 2008-09 — Receipts & Expenditure Summary

ParticularsAmount% of Total
A. Total ReceiptsRs 12,200 crore100%
1. Revenue ReceiptsRs 7,600 crore62.3%
a. Own Tax RevenueRs 3,300 crore27.0%
b. Non-Tax RevenueRs 1,300 crore10.7%
B. Total ExpenditureRs 12,900 crore100%
1. Revenue ExpenditureRs 10,800 crore83.7%
2. Capital ExpenditureRs 2,100 crore16.3%
of which: Interest PaymentsRs 2,400 crore18.6%
C. Fiscal DeficitRs 1,700 crore4.8% of GSDP

Source: Himachal Pradesh State Budget Documents via PRS India. All figures in Indian Rupees.

Himachal Pradesh Budget 2008-09 Analysis & Highlights

Key Highlights

  • Total expenditure of Rs 12,900 crore, up 14.2% from Rs 11,300 crore in 2007-08
  • Revenue receipts at Rs 7,600 crore with own tax revenue of Rs 3,300 crore
  • Revenue deficit of Rs 3,200 crore widens as committed expenditure rises faster than receipts
  • Fiscal deficit at 4.8% of GSDP (Rs 1,700 crore), unchanged from the previous year
  • Outstanding debt climbs to Rs 19,800 crore with debt-to-GSDP at 55.9%
  • Interest payments at Rs 2,400 crore absorb 31.6% of revenue receipts
  • Capital expenditure at Rs 2,100 crore sees marginal improvement over 2007-08
  • Global financial crisis impacts industrial revenue from the Baddi-Barotiwala cluster
  • Non-tax revenue at Rs 1,300 crore supported by hydropower royalties from Sutlej projects
  • Apple production affected by unseasonal weather in Shimla and Kullu belts
  • Market borrowings of Rs 1,800 crore continue to build the debt stock
  • GSDP at Rs 35,400 crore with nominal growth of around 13%

Compare Himachal Pradesh Budget — Recent Years

Year-over-year comparison of key fiscal metrics

Metric2004-052005-062006-072007-082008-09
Total Expenditure———Rs 11,300 croreRs 12,900 crore
Revenue Receipts———Rs 6,800 croreRs 7,600 crore
Capital Expenditure———Rs 1,800 croreRs 2,100 crore
Fiscal Deficit (% GSDP)———4.8%4.8%
Own Tax Revenue———Rs 2,900 croreRs 3,300 crore

Columns showing "—" will populate as more data is ingested. Data from official budget documents via PRS India.

2007-08 2009-10

Understanding Himachal Pradesh State Budget 2008-09

The Himachal Pradesh 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.

Himachal Pradesh 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 Himachal Pradesh with other states

Side-by-side comparison of fiscal metrics across Indian states

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