Rajasthan State Budget 2023-24 Analysis
Revised EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Rajasthan FY 2023-24
Rajasthan State Budget 2023-24 Budget at a Glance
Total Receipts
Rs 2.4 lakh crore
+3.4%
Total Expenditure
Rs 3 lakh crore
+2.7%
Fiscal Deficit
3.9%
Rs 60,000 crore
Capital Expenditure
Rs 32,000 crore
-23.8%
Tax Revenue
Rs 98,000 crore
-14.8%
Interest Payments
Rs 35,000 crore
12% of expenditure
Rajasthan Revenue Receipts 2023-24
Own tax revenue vs non-tax revenue breakdown
Rajasthan Expenditure Breakdown 2023-24
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP â Rajasthan 2023-24
The fiscal deficit for Rajasthan in 2023-24 is 3.9% of GSDP (Rs 60,000 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 35,000 crore consume 11.7% of total expenditure.
Rajasthan State Budget 2023-24 â Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 2.95 lakh crore | 100% |
| 1. Revenue Receipts | Rs 2.4 lakh crore | 81.4% |
| a. Own Tax Revenue | Rs 98,000 crore | 33.2% |
| b. Non-Tax Revenue | Rs 15,000 crore | 5.1% |
| B. Total Expenditure | Rs 3 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 2.68 lakh crore | 89.3% |
| 2. Capital Expenditure | Rs 32,000 crore | 10.7% |
| of which: Interest Payments | Rs 35,000 crore | 11.7% |
| C. Fiscal Deficit | Rs 60,000 crore | 3.9% of GSDP |
Source: Rajasthan State Budget Documents via PRS India. All figures in Indian Rupees.
Rajasthan Department-wise Expenditure 2023-24
Top departments by allocation in Rajasthan for 2023-24
| Department â | Revenue â | Capital â | Total â | Share |
|---|---|---|---|---|
1. Education | Rs 38,000 crore | Rs 3,500 crore | Rs 41,500 crore | 13.8% |
2. Social Welfare | Rs 23,000 crore | Rs 2,000 crore | Rs 25,000 crore | 8.3% |
3. Agriculture & Allied | Rs 17,000 crore | Rs 3,000 crore | Rs 20,000 crore | 6.7% |
4. Health & Family Welfare | Rs 15,500 crore | Rs 3,000 crore | Rs 18,500 crore | 6.2% |
5. Energy | Rs 14,000 crore | Rs 3,500 crore | Rs 17,500 crore | 5.8% |
6. Rural Development | Rs 12,500 crore | Rs 4,000 crore | Rs 16,500 crore | 5.5% |
7. Water Resources & Irrigation | Rs 6,000 crore | Rs 7,000 crore | Rs 13,000 crore | 4.3% |
8. Police & Home | Rs 10,000 crore | Rs 1,200 crore | Rs 11,200 crore | 3.7% |
9. Transport & Roads | Rs 4,500 crore | Rs 6,000 crore | Rs 10,500 crore | 3.5% |
10. Urban Development | Rs 7,500 crore | Rs 2,500 crore | Rs 10,000 crore | 3.3% |
Rajasthan Budget 2023-24 Analysis & Highlights
Key Highlights
- Revised estimates showed expenditure at Rs 3.1 lakh crore, 6% above initial budget estimates.
- Tourism recovery drove hotel and restaurant tax revenues 25% above projections.
- Mineral revenue exceeded estimates by Rs 2,000 crore due to elevated construction material demand.
- OPS expenditure at Rs 13,000 crore consumed an increasing share of revenue spending.
- Capital expenditure utilization at 75%, constrained by land acquisition delays in highway projects.
- Chiranjeevi Health Insurance claims processing reached 85 lakh beneficiaries.
- Education spending at Rs 42,000 crore included salary arrear payments for 200,000 teachers.
- ERCP Phase 1 tunnel construction achieved 40% physical progress with Rs 4,000 crore expenditure.
- State GST collections reached Rs 44,000 crore, growing 17% year-on-year.
- Fiscal deficit revised upward to 3.5% of GSDP from budgeted 3.2%.
Compare Rajasthan Budget â Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 |
|---|---|---|---|---|---|
| Total Expenditure | â | â | â | Rs 2.92 lakh crore | Rs 3 lakh crore |
| Revenue Receipts | â | â | â | Rs 2.32 lakh crore | Rs 2.4 lakh crore |
| Capital Expenditure | â | â | â | Rs 42,000 crore | Rs 32,000 crore |
| Fiscal Deficit (% GSDP) | â | â | â | 4.2% | 3.9% |
| Own Tax Revenue | â | â | â | Rs 1.15 lakh crore | Rs 98,000 crore |
Columns showing "â" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Rajasthan State Budget 2023-24
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