Himachal Pradesh State Budget 2022-23 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Himachal Pradesh FY 2022-23
Himachal Pradesh State Budget 2022-23 Budget at a Glance
Total Receipts
Rs 42,000 crore
+16.7%
Total Expenditure
Rs 55,500 crore
+14.4%
Fiscal Deficit
5.8%
Rs 11,500 crore
Capital Expenditure
Rs 8,500 crore
+13.3%
Tax Revenue
Rs 14,500 crore
+18.9%
Interest Payments
Rs 7,000 crore
13% of expenditure
Himachal Pradesh Revenue Receipts 2022-23
Own tax revenue vs non-tax revenue breakdown
Himachal Pradesh Expenditure Breakdown 2022-23
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP â Himachal Pradesh 2022-23
The fiscal deficit for Himachal Pradesh in 2022-23 is 5.8% of GSDP (Rs 11,500 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 7,000 crore consume 12.6% of total expenditure.
Himachal Pradesh State Budget 2022-23 â Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 54,000 crore | 100% |
| 1. Revenue Receipts | Rs 42,000 crore | 77.8% |
| a. Own Tax Revenue | Rs 14,500 crore | 26.9% |
| b. Non-Tax Revenue | Rs 9,000 crore | 16.7% |
| B. Total Expenditure | Rs 55,500 crore | 100% |
| 1. Revenue Expenditure | Rs 47,000 crore | 84.7% |
| 2. Capital Expenditure | Rs 8,500 crore | 15.3% |
| of which: Interest Payments | Rs 7,000 crore | 12.6% |
| C. Fiscal Deficit | Rs 11,500 crore | 5.8% of GSDP |
Source: Himachal Pradesh State Budget Documents via PRS India. All figures in Indian Rupees.
Himachal Pradesh Budget 2022-23 Analysis & Highlights
Key Highlights
- Total expenditure at Rs 55,500 crore as the new Congress government takes charge after December 2022 polls
- Revenue receipts of Rs 42,000 crore with own tax revenue at Rs 14,500 crore
- Revenue deficit at Rs 5,000 crore persists despite strong revenue growth
- Fiscal deficit at 5.8% of GSDP (Rs 11,500 crore) as Old Pension Scheme restoration begins
- Outstanding debt reaches Rs 89,000 crore with debt-to-GSDP at 44.5%
- Interest payments at Rs 7,000 crore absorb 16.7% of revenue receipts
- Capital expenditure at Rs 8,500 crore â record levels driven by central push
- Old Pension Scheme restoration for post-2004 employees announced â massive future liability
- Non-tax revenue at Rs 9,000 crore with hydropower royalties at peak levels
- Apple economy valued at over Rs 5,000 crore â largest horticulture crop
- Market borrowings at Rs 9,500 crore as fiscal pressures mount
- GSDP at Rs 2,00,000 crore â the economy doubles in five years
Compare Himachal Pradesh Budget â Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 |
|---|---|---|---|---|---|
| Total Expenditure | â | â | â | Rs 48,500 crore | Rs 55,500 crore |
| Revenue Receipts | â | â | â | Rs 36,000 crore | Rs 42,000 crore |
| Capital Expenditure | â | â | â | Rs 7,500 crore | Rs 8,500 crore |
| Fiscal Deficit (% GSDP) | â | â | â | 5.9% | 5.8% |
| Own Tax Revenue | â | â | â | Rs 12,200 crore | Rs 14,500 crore |
Columns showing "â" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Himachal Pradesh State Budget 2022-23
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