Himachal Pradesh State Budget 2024-25 Analysis
Budget EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Himachal Pradesh FY 2024-25
Himachal Pradesh State Budget 2024-25 Budget at a Glance
Total Receipts
Rs 42,153 crore
+4.2%
Total Expenditure
Rs 52,937 crore
+0.4%
Fiscal Deficit
4.7%
Rs 10,784 crore
Capital Expenditure
Rs 6,270 crore
-7.5%
Tax Revenue
Rs 15,101 crore
+18.3%
Interest Payments
Rs 6,255 crore
12% of expenditure
Himachal Pradesh Revenue Receipts 2024-25
Own tax revenue vs non-tax revenue breakdown
Himachal Pradesh Expenditure Breakdown 2024-25
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP â Himachal Pradesh 2024-25
The fiscal deficit for Himachal Pradesh in 2024-25 is 4.7% of GSDP (Rs 10,784 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 6,255 crore consume 11.8% of total expenditure.
Himachal Pradesh State Budget 2024-25 â Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 55,090 crore | 100% |
| 1. Revenue Receipts | Rs 42,153 crore | 76.5% |
| a. Own Tax Revenue | Rs 15,101 crore | 27.4% |
| b. Non-Tax Revenue | Rs 3,641 crore | 6.6% |
| B. Total Expenditure | Rs 52,937 crore | 100% |
| 1. Revenue Expenditure | Rs 46,667 crore | 88.2% |
| 2. Capital Expenditure | Rs 6,270 crore | 11.8% |
| of which: Interest Payments | Rs 6,255 crore | 11.8% |
| C. Fiscal Deficit | Rs 10,784 crore | 4.7% of GSDP |
Source: Himachal Pradesh State Budget Documents via PRS India. All figures in Indian Rupees.
Himachal Pradesh Department-wise Expenditure 2024-25
Top departments by allocation in Himachal Pradesh for 2024-25
| Department â | Revenue â | Capital â | Total â | Share |
|---|---|---|---|---|
1. Education | Rs 7,500 crore | Rs 450 crore | Rs 7,950 crore | 15.0% |
2. Health & Family Welfare | Rs 3,500 crore | Rs 500 crore | Rs 4,000 crore | 7.6% |
3. Energy | Rs 3,200 crore | Rs 450 crore | Rs 3,650 crore | 6.9% |
4. Rural Development | Rs 2,900 crore | Rs 700 crore | Rs 3,600 crore | 6.8% |
5. Transport & Roads | Rs 2,000 crore | Rs 1,300 crore | Rs 3,300 crore | 6.2% |
6. Police & Home | Rs 2,500 crore | Rs 250 crore | Rs 2,750 crore | 5.2% |
7. Social Welfare | Rs 2,200 crore | Rs 180 crore | Rs 2,380 crore | 4.5% |
8. Agriculture & Allied | Rs 2,000 crore | Rs 350 crore | Rs 2,350 crore | 4.4% |
9. Water Supply & Sanitation | Rs 1,100 crore | Rs 600 crore | Rs 1,700 crore | 3.2% |
10. Urban Development | Rs 1,100 crore | Rs 450 crore | Rs 1,550 crore | 2.9% |
Himachal Pradesh Budget 2024-25 Analysis & Highlights
Key Highlights
- Total expenditure at Rs 52,965 crore â first full budget under Congress government
- Revenue receipts of Rs 42,153 crore with own tax revenue of Rs 15,101 crore
- Revenue deficit of Rs 4,513 crore continues the structural fiscal gap
- Fiscal deficit at 4.7% of GSDP (Rs 10,784 crore), well above FRBM ceiling
- Capital expenditure at Rs 6,270 crore before the sharp cut in 2025-26
- Old Pension Scheme restoration announced â significant long-term fiscal commitment
- Debt-to-GSDP at 38.7%, one of the highest among all Indian states
- Interest payments at Rs 6,255 crore consume 14.8% of revenue receipts
- Apple procurement and horticulture support at the core of agricultural policy
- Non-tax revenue of Rs 3,641 crore from hydropower, forest, and tourism
- Primary deficit at Rs 4,528 crore signals borrowing well beyond interest servicing
- GSDP at Rs 2,27,136 crore â per-capita income relatively high but fiscal capacity constrained
Compare Himachal Pradesh Budget â Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 |
|---|---|---|---|---|---|
| Total Expenditure | â | â | â | Rs 52,707 crore | Rs 52,937 crore |
| Revenue Receipts | â | â | â | Rs 40,446 crore | Rs 42,153 crore |
| Capital Expenditure | â | â | â | Rs 6,781 crore | Rs 6,270 crore |
| Fiscal Deficit (% GSDP) | â | â | â | 5.9% | 4.7% |
| Own Tax Revenue | â | â | â | Rs 12,769 crore | Rs 15,101 crore |
Columns showing "â" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Himachal Pradesh State Budget 2024-25
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.
Explore More
Compare Himachal Pradesh with other states
Side-by-side comparison of fiscal metrics across Indian states