Himachal Pradesh State Budget 2021-22 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Himachal Pradesh FY 2021-22
Himachal Pradesh State Budget 2021-22 Budget at a Glance
Total Receipts
Rs 36,000 crore
+18.0%
Total Expenditure
Rs 48,500 crore
+12.8%
Fiscal Deficit
5.9%
Rs 10,500 crore
Capital Expenditure
Rs 7,500 crore
+21.0%
Tax Revenue
Rs 12,200 crore
+24.5%
Interest Payments
Rs 6,300 crore
13% of expenditure
Himachal Pradesh Revenue Receipts 2021-22
Own tax revenue vs non-tax revenue breakdown
Himachal Pradesh Expenditure Breakdown 2021-22
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP — Himachal Pradesh 2021-22
The fiscal deficit for Himachal Pradesh in 2021-22 is 5.9% of GSDP (Rs 10,500 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 6,300 crore consume 13.0% of total expenditure.
Himachal Pradesh State Budget 2021-22 — Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 47,000 crore | 100% |
| 1. Revenue Receipts | Rs 36,000 crore | 76.6% |
| a. Own Tax Revenue | Rs 12,200 crore | 26.0% |
| b. Non-Tax Revenue | Rs 7,800 crore | 16.6% |
| B. Total Expenditure | Rs 48,500 crore | 100% |
| 1. Revenue Expenditure | Rs 41,000 crore | 84.5% |
| 2. Capital Expenditure | Rs 7,500 crore | 15.5% |
| of which: Interest Payments | Rs 6,300 crore | 13.0% |
| C. Fiscal Deficit | Rs 10,500 crore | 5.9% of GSDP |
Source: Himachal Pradesh State Budget Documents via PRS India. All figures in Indian Rupees.
Himachal Pradesh Budget 2021-22 Analysis & Highlights
Key Highlights
- Total expenditure at Rs 48,500 crore as post-pandemic recovery drives spending upward
- Revenue receipts recover to Rs 36,000 crore with tax revenue rebounding to Rs 12,200 crore
- Revenue deficit at Rs 5,000 crore shows partial improvement from the pandemic peak
- Fiscal deficit at 5.9% of GSDP (Rs 10,500 crore), still well above FRBM norms
- Outstanding debt at Rs 79,000 crore with debt-to-GSDP at 44.4%
- Interest payments at Rs 6,300 crore reflect the higher debt accumulated during COVID
- Capital expenditure at Rs 7,500 crore as infrastructure investment accelerates
- Tourism rebounds strongly with record footfall as pent-up demand is released
- Non-tax revenue at Rs 7,800 crore with hydropower sector performing well
- Apple production faces climate challenges with erratic rainfall patterns
- Market borrowings at Rs 8,500 crore continue the elevated post-pandemic trend
- GSDP at Rs 1,78,000 crore shows strong nominal recovery from pandemic lows
Compare Himachal Pradesh Budget — Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2017-18 | 2018-19 | 2019-20 | 2020-21 | 2021-22 |
|---|---|---|---|---|---|
| Total Expenditure | — | — | — | Rs 43,000 crore | Rs 48,500 crore |
| Revenue Receipts | — | — | — | Rs 30,500 crore | Rs 36,000 crore |
| Capital Expenditure | — | — | — | Rs 6,200 crore | Rs 7,500 crore |
| Fiscal Deficit (% GSDP) | — | — | — | 7.4% | 5.9% |
| Own Tax Revenue | — | — | — | Rs 9,800 crore | Rs 12,200 crore |
Columns showing "—" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Himachal Pradesh State Budget 2021-22
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