Himachal Pradesh State Budget 2018-19 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Himachal Pradesh FY 2018-19
Himachal Pradesh State Budget 2018-19 Budget at a Glance
Total Receipts
Rs 29,500 crore
+12.6%
Total Expenditure
Rs 37,200 crore
+12.7%
Fiscal Deficit
4.8%
Rs 6,700 crore
Capital Expenditure
Rs 5,000 crore
+19.0%
Tax Revenue
Rs 9,800 crore
+11.4%
Interest Payments
Rs 4,700 crore
13% of expenditure
Himachal Pradesh Revenue Receipts 2018-19
Own tax revenue vs non-tax revenue breakdown
Himachal Pradesh Expenditure Breakdown 2018-19
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP — Himachal Pradesh 2018-19
The fiscal deficit for Himachal Pradesh in 2018-19 is 4.8% of GSDP (Rs 6,700 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 4,700 crore consume 12.6% of total expenditure.
Himachal Pradesh State Budget 2018-19 — Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 37,500 crore | 100% |
| 1. Revenue Receipts | Rs 29,500 crore | 78.7% |
| a. Own Tax Revenue | Rs 9,800 crore | 26.1% |
| b. Non-Tax Revenue | Rs 6,500 crore | 17.3% |
| B. Total Expenditure | Rs 37,200 crore | 100% |
| 1. Revenue Expenditure | Rs 32,200 crore | 86.6% |
| 2. Capital Expenditure | Rs 5,000 crore | 13.4% |
| of which: Interest Payments | Rs 4,700 crore | 12.6% |
| C. Fiscal Deficit | Rs 6,700 crore | 4.8% of GSDP |
Source: Himachal Pradesh State Budget Documents via PRS India. All figures in Indian Rupees.
Himachal Pradesh Budget 2018-19 Analysis & Highlights
Key Highlights
- Total expenditure at Rs 37,200 crore, up 12.7% reflecting the BJP government's infrastructure push
- Revenue receipts of Rs 29,500 crore with own tax revenue at Rs 9,800 crore
- Revenue deficit of Rs 2,700 crore as salary and pension costs continue rising
- Fiscal deficit at 4.8% of GSDP (Rs 6,700 crore), funded through heavy borrowing
- Outstanding debt at Rs 53,000 crore with debt-to-GSDP at 38.1% — gradual improvement
- Interest payments at Rs 4,700 crore absorb 15.9% of revenue receipts
- Capital expenditure rises to Rs 5,000 crore with Atal Tunnel nearing completion
- GST compensation ensures stable revenue despite economic slowdown signs
- Apple crop hit by drought conditions affecting yield in Shimla belt
- Tourism sector reaches record footfall of over 1.8 crore visitors
- Market borrowings of Rs 5,500 crore to fund the infrastructure expansion
- GSDP at Rs 1,39,000 crore with construction and services as lead sectors
Compare Himachal Pradesh Budget — Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 |
|---|---|---|---|---|---|
| Total Expenditure | — | — | — | Rs 33,000 crore | Rs 37,200 crore |
| Revenue Receipts | — | — | — | Rs 26,200 crore | Rs 29,500 crore |
| Capital Expenditure | — | — | — | Rs 4,200 crore | Rs 5,000 crore |
| Fiscal Deficit (% GSDP) | — | — | — | 4.8% | 4.8% |
| Own Tax Revenue | — | — | — | Rs 8,800 crore | Rs 9,800 crore |
Columns showing "—" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Himachal Pradesh State Budget 2018-19
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