Rajasthan State Budget 2022-23 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Rajasthan FY 2022-23
Rajasthan State Budget 2022-23 Budget at a Glance
Total Receipts
Rs 2.32 lakh crore
+14.9%
Total Expenditure
Rs 2.92 lakh crore
+15.4%
Fiscal Deficit
4.2%
Rs 55,000 crore
Capital Expenditure
Rs 42,000 crore
+20.0%
Tax Revenue
Rs 1.15 lakh crore
+15.0%
Interest Payments
Rs 34,000 crore
12% of expenditure
Rajasthan Revenue Receipts 2022-23
Own tax revenue vs non-tax revenue breakdown
Rajasthan Expenditure Breakdown 2022-23
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP â Rajasthan 2022-23
The fiscal deficit for Rajasthan in 2022-23 is 4.2% of GSDP (Rs 55,000 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. Rajasthan's deficit is above this threshold, driven by higher capital spending needs.
Interest payments at Rs 34,000 crore consume 11.6% of total expenditure.
Rajasthan State Budget 2022-23 â Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 2.7 lakh crore | 100% |
| 1. Revenue Receipts | Rs 2.32 lakh crore | 85.9% |
| a. Own Tax Revenue | Rs 1.15 lakh crore | 42.6% |
| b. Non-Tax Revenue | Rs 1.17 lakh crore | 43.3% |
| B. Total Expenditure | Rs 2.92 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 2.5 lakh crore | 85.6% |
| 2. Capital Expenditure | Rs 42,000 crore | 14.4% |
| of which: Interest Payments | Rs 34,000 crore | 11.6% |
| C. Fiscal Deficit | Rs 55,000 crore | 4.2% of GSDP |
Source: Rajasthan State Budget Documents via PRS India. All figures in Indian Rupees.
Rajasthan Budget 2022-23 Analysis & Highlights
Key Highlights
- Total actual expenditure at Rs 2.7 lakh crore, in line with revised estimates.
- Tourism sector fully recovered with 55 million domestic visitors, surpassing pre-pandemic levels.
- Mineral revenues hit record Rs 8,500 crore as construction boom drove demand for building materials.
- State GST collections of Rs 38,000 crore marked 20% year-on-year growth.
- OPS restoration announced mid-year adding Rs 2,000 crore in immediate transition costs.
- Capital expenditure of Rs 38,000 crore focused on highway connectivity and solar park infrastructure.
- Jaipur Metro Phase 2 received Rs 2,500 crore for extension to Sitapura industrial area.
- Agriculture performed at 3% growth despite below-normal monsoon in western districts.
- Fiscal deficit at actuals came in at 2.8% of GSDP, better than the 3.1% budgeted.
- Zinc and lead mining royalties from Hindustan Zinc contributed Rs 3,000 crore in non-tax revenue.
Compare Rajasthan 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 2.53 lakh crore | Rs 2.92 lakh crore |
| Revenue Receipts | â | â | â | Rs 2.02 lakh crore | Rs 2.32 lakh crore |
| Capital Expenditure | â | â | â | Rs 35,000 crore | Rs 42,000 crore |
| Fiscal Deficit (% GSDP) | â | â | â | 4.2% | 4.2% |
| Own Tax Revenue | â | â | â | Rs 1 lakh crore | Rs 1.15 lakh crore |
Columns showing "â" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Rajasthan State Budget 2022-23
The Rajasthan 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.
Rajasthan 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 Rajasthan with other states
Side-by-side comparison of fiscal metrics across Indian states