Union Budget 2023-24 Pdf

What is the budget of UP 2023-24?

Uttar Pradesh Budget 2023-24: Roadmap to a Trillion Dollar Eco. With the aim of making Uttar Pradesh a ‘self-reliant’ state and a $ 1-trillion economy by 2027, the Finance Minister of UP Shri Suresh Khanna presented an INR 6.9 lakh crore 1 budget for the fiscal year 2023-24, the biggest budget in the history of the state.

Uttar Pradesh is an emerging economic hotspot and has a contribution of ~8 percent 2 to the national GDP. The Budget laid a significant focus on the empowerment of the youth, welfare schemes, and connectivity and infrastructure development. For the financial year 2023-24, the nominal rate of increase in GSDP is estimated at 19 percent.3 The Budget laid notable emphasis on the following sectors.

Startups: Uttar Pradesh is actively promoting a startup culture and empowering its youth to become self-reliant. A provision of INR 100 crore has been made for seed funds to promote incubators. Startups are encouraged in sectors of tourism, healthcare, education, agriculture, and energy.

Currently, the state has 50 incubators and 7,200 startups 4, INR 60 crore has been allocated for the Information Technology and Startups Policy for UP. Infrastructure: For fiscal year (FY) 2023-24, INR 55,000 5 crore has been allocated for a range of infrastructure projects including the construction of expressways, roads, and metros, to position Uttar Pradesh as one of the most well-connected states in the country.

The allocations have been significant; INR 30,000 crore5 for the construction and maintenance of roads and bridges; INR 2,588 crore for the widening of state highways; INR 50 crore has been earmarked for the development of road projects near proposed industrial and logistics parks.

State Government will invest INR 3,000 crore for Chief Minister’s Urban Expansion and New City Promotion Scheme. Metro/RRTS/Expressways: For the marquee projects of Kanpur Metro and Agra Metro, INR 585 crore and INR 465 crore have been allocated, respectively. Over INR 1,300 crore has been allocated for the upcoming Regional Rapid Transit System project in the Delhi-Ghaziabad-Meerut Corridor.

A budgetary provision of INR 235 crore has been made in the initial phase of the new expressway projects of Jhansi and Chitrakoot. Agriculture: Agriculture has always been an important pillar and focus policy area for Uttar Pradesh. In FY 22-23 budget, a 50 percent subsidy was provided on the electricity bills of private tubewell consumers.

It has been raised to 100 percent in FY 23-24 budget, for which a provision of INR 1,500 crore has been made. The government has invested in promoting research and innovation to promote the startup culture in agriculture. INR 20 crore is proposed for the Agriculture Accelerator Fund for starting an agri-tech startup incubation center.

Tourism: Uttar Pradesh has vast opportunities for tourism. The state has seen a sustained rise in tourism activity. Uttar Pradesh saw a footfall of 24.87 crore6 tourists in 2022. Efforts are being made for beautification and tourism development in Ayodhya, Varanasi, and Prayagraj.

1. The development of a Spiritual Circuit in Gorakhpur-Devipatan, Jewar-Dadri-Noida-Khurja, and Govardhan is proposed.
2. First-of-its-kind night safari is set to come up in Kukrail in Lucknow with an outlay of INR 50 crore 7,
3. INR 1,000 crore 8 have been earmarked for the project of ‘Dharmarth Marg,’ concerning the development of roads linked to religious and spiritual tourist centres.

Renewable Energy: Electricity consumption is expected to rise in the state to 53,000 MW8 by 2028. Noida is envisaged as a “solar city” and Bundelkhand is to be transformed as a hub of green energy. The state government has announced Ayodhya as a Model Solar City and INR 15.75 crore 9 has been allocated for the same.

1. UP’s turnaround on ease of doing business has been phenomenal.
2. The state marked a milestone by leapfrogging 12 positions in the States’ Ease of Doing Business Index reaching the second position in 2022.10 Uttar Pradesh, with its inherent strengths, young demographics and future growth potential is an attractive investment destination in India.

Uttar Pradesh is currently home to ~17 percent of India’s population and houses the youngest workforce, with 56 percent of the total population in the working age group. UP is a vital cog in India’s determined march towards a $5 trillion economy and the UP Budget 2023-24 is a step to strengthen the state’s contribution towards this ambition.

What is the budget of Kerala in 2023-24?

State of Kerala State Budget for 2023-24 Image Courtesy : newsable.asianetnews.com The Kerala Budget for the year 2023-24 aims to “improve the standard of living of the people and create a sustainable and modern ‘Nava Kerala’ (New Kerala).” The state says that in the past year, more than one lakh new enterprises have been launched in Kerala.

1. The state is also striving to achieve a higher economic growth rate in the current financial year.
2. Since the state has a large segment of elderly population, with aged 60 years and above comprising16.50% in 2021 and it is projected to increase to 20% by 2031.
3. With this large aged population, ensuring social safety would be an enormous challenge given the constraints of state finance.

It is predicted that very soon Kerala may become the highest dependency-population ratio state in the country. Most youth in Kerala either migrate to other states or immigrate to other countries either for education or for employment as the prospects for fulfilling their aspirations are limited within the state.

• Erala’s economy grew by 12.01% GSDP in 2021-2022.
• For the first time in recent history, the state agriculture-allied sector and industry-allied sector have achieved a growth rate of 6.7% and 17.3% respectively.
• Within the industrial sector, an impressive growth rate of 18.9% has been achieved in the manufacturing sector due to the low level of the base in the previous year.

Though there is a marginal increase in its own tax revenue but the exorbitant increase in the Kerala government’s committed expenditures like employee salary and pension liabilities pose serious threats to the state budget, leaving not much for the welfare of the state for long-term assets creation through capital expenditure.

1. Capital expenditure allocation for 2023-24 is proposed to be INR 14,606 crore, a decrease of 2% over the revised estimate of 2022-23.
2. In 2020-21, INR 46,754 crore was incurred as expenditure for salary and pension benefits.
3. It has further increased to INR 71,393 crore in 2021-22, which is an increase of INR 24,639 crores and an increase of 53%.

As per actual expenditure, 81% of revenue receipts was spent towards committed expenditure in 2021-22, leaving only 19% of funds for development projects/schemes. Further, Kerala’s committed expenditure is expected to increase by 5% over the revised estimate of 2022-23.

In 2023-24, Kerala is estimated to spend INR 94,649 crore on committed expenditure, which is 70% of its estimated revenue receipts. This comprises spending on salaries (30% of revenue receipts), pension (21%), and interest payments (19%). According to RBI Report (2022), Kerala state is one of the highest debt burdens based on the debt-GSDP ratio in 2020-21.

It is one of the top 10 states with fiscal vulnerability in the country. The growing revenue deficit would be worrisome for the state economy. Kerala’s revenue deficit is estimated to be 2.1% of GSDP (INR 23,942 crore) in 2023-24, marginally higher than the revised estimates of 2% of GSDP for 2022-23.

Though, the revenue deficit is expected to be lower than the budget estimate with 2.3% of GSDP in 2022-23. The fiscal deficit for 2023-24 is targeted at 3.5% of GSDP (INR 39,662 crore), which is the highest limit prescribed by the Union Government for states. In 2022-23, as per the revised estimates, the fiscal deficit is expected to be 3.6% of GSDP, marginally lower than the budget estimate of 3.9% of GSDP.

Kerala Budget 2023-24 announced to increase in revenue augmentation in stamp duties, electricity duty, and taxes on vehicles will all be increased. Property tax and royalty on minor minerals will also be revised for revenue augmentation to bridge the shortfall of revenues.

A Social Security Cess of INR 2 per litre will be charged on liquor, petrol, and diesel to generate revenue of INR 1,150 crore and will be used for the Social Security Seed Fund. The Kerala budget has also announced a few interesting initiatives like Life Science Park and 3 Digital Sciences Parks, which will be a major boost to the state with an investment of INR1000 crores for the promotion of higher education.

While one could see the State Budget largely blames the Union Government for various aspects like low state share of tax, etc., Kerala’s budget for 2023-24 has actually been inspired by the Government of India’s Make in India announcement of “Make in Kerala” through which the state aims “to increase domestic production, employment/entrepreneur/investment opportunities in Kerala”.

• The Budget also announced sponsoring 100 research students for short-term fellowship projects in international universities across the globe.
• To implement ‘Make in Kerala’, the state has done a scientific study to find ways to pursue it.
• A study by the Centre for Development Studies found that “Kerala imported products worth around INR1,28,000 crore in 2021-2022.

Out of this, 92% was from other states. During this period, the state’s exports were around INR74,000 crore. Out of this, 70% was to other states. From this, it has to be understood that the trade deficit of Kerala is very high. In this context, the study aims to find out the imported products which can be produced locally.” However, the state should take cautious steps and promote the production of goods within the state through ‘Make in Kerala’ only if the state has comparative advantages on essential resources over other states, both in terms of cost of production and its capability to scale up.

1. Otherwise, it would not able to mark any difference even if the specific profitable products are promising in a short-term period.
2. Institutional structure and means of financing large investments from the private sector are weak in the state.
3. There is a poor nexus among factors of production across different sectors in the Kerala economy.

Though, it is quite interesting that the state has mentioned in its budget that “there has been a huge boom in the infrastructure development sector in Kerala. Construction activities for a length of 1931 km worth around INR 1,33,000 crore including National Highway 66 and other National Highways are progressing at various stages.” The urban population of Kerala is about 70% but the civic facilities and services have barely improved over the years.

• There are 6 city corporations in the state.
• Urban mobility is a major issue in the state.
• The budget provision of INR1,055.31 crore given for Urban Development Programmes in the State is not sufficient to ensure various essential services and facilities for citizens.
• In 2023-24, total transfers to local governments are estimated at INR 14,149 crore, an increase of 25.4% over the revised estimates for 2022-23.

This is inclusive of the grant of INR 2,496 crore from the Union Government for local bodies as per the 15 th Finance Commission recommendations. Kerala announced to set up of a commission to formulate a new policy for urbanisation under the scheme of “Nava Kerala Nagara Nayam”,

Kerala is the pioneer in decentralised management of local bodies both in urban and rural spaces which are witnessing a second generation of reforms. This is something that Tamil Nadu can learn and adapt to empower local government for better services and facilities for what citizens pay by way of taxes.

Views expressed by the author are personal and need not reflect or represent the views of the Centre for Public Policy Research.

What are the highlights of up budget 2023?

UP Budget 2023 Highlights: Government allocates Rs 3,600 crores for free smartphones, tablets to students. UP Budget 2023: The share of tax revenue in revenue receipts is Rs 44,58,71.59 crore, including its own tax revenue of Rs 2,62,634 crore and the state’s share in central taxes of Rs 1,83,237.59 crore.

What is the budget of Odisha in 2023-24?

Today on 24th February, 2023 Hon’ble Minister, Finance Sri Niranjan Pujari presented a welfare, growth, development and investment-oriented Annual Budget for 2023‐24 in the Odisha Legislative Assembly with an outlay of ₹2,30,000 crore, which is about 15% more than the Annual Budget, 2022-23.

What is the budget of UN Programme 2023?

Assessments for the UN Regular Budget and Specialized Agencies – The UN regular budget funds the UN’s core bodies and activities outside of peacekeeping. These include:

Special political missions operating in Afghanistan, Colombia, Iraq, Libya, Somalia, Sudan, Yemen, and other countries that are either undergoing or emerging from conflict, where they work to advance peace negotiations and mediation processes, investigate human rights abuses, support the development of effective governing institutions, and facilitate free and fair elections;

Efforts to ensure international implementation and compliance with sanctions adopted by the Security Council against terrorist organizations such as ISIS and Al-Qaeda and rogue states like North Korea; and

Much of the organization’s core international human rights monitoring and advocacy work, as more than 40% of funding for the Office of the UN High Commissioner for Human Rights comes from the regular budget.

The UN’s regular and peacekeeping budgets are approved by the UN General Assembly. For 2023, the regular budget totals $3.4 billion, nearly one-quarter of which is for special political missions. This covers nearly 40,000 employees in duty stations around the world at $1.6 billion less than the 2023 operating budget of Delaware.

• Member State assessment rates are also determined by the General Assembly, with renegotiations taking place every three years.
• The current assessment structure sets maximum (22%) and minimum (.001%) rates, with a country’s rate based on its ability to pay.
• That is determined by a formula which factors in a Member State’s gross national income, per capita income, and several other economic indicators.

Given its high level of economic development and per capita income relative to other countries, the U.S. pays the maximum rate. Over time, the U.S. has negotiated several reductions in its share, most notably an agreement in 2000 to establish the current maximum and minimum assessment structure, essentially capping U.S.

What is the total budget of 2023?

Union Budget 2023-24 : Analysis of Major Demands The central government’s expenditure is presented and authorised by Parliament through the Union Budget every financial year. Article 113 of the Constitution requires all expenditure (except charged expenditure) to be submitted in the form of Demands for Grants (Ministry-wise) to Lok Sabha.

The Demands for Grants are referred to the Ministries’ respective Departmentally-Related Standing Committee for further examination. Following this, they are discussed in Lok Sabha and approved. After Lok Sabha’s authorisation of the demands, an Appropriation Bill is introduced and passed to permit expenditure out of the Consolidated Fund of India.

This document contains a short analysis of the Union Budget for 2023-24, and an assessment of the allocations made by 15 ministries, which account for 72% of the total union budget. This includes an analysis of key trends in expenditure, various schemes being implemented, and key sectoral issues.

The Union Budget 2023-24 was presented on February 1, 2023 by the Finance Minister Ms. Nirmala Sitharaman. It proposes to spend Rs 45,03,097 crore in the financial year. Out of the total expenditure, revenue expenditure is estimated to be Rs 35,02,136 crore (1.2% increase from revised estimates of 2022-23).

Interest expenditure is 41% of revenue receipts. Capital expenditure is estimated to be Rs 10,00,961 crore, a 37.4% increase from revised estimates of 2022-23. The increase in capital expenditure is driven by higher outlay on transport infrastructure and capital loans to states.

1. Revenue deficit in 2023-24 is targeted at 2.9% of GDP, which is lower than the revised revenue deficit of 4.1% in 2022-23.
2. Fiscal deficit in 2023-24 is targeted at 5.9% of GDP, lower than the revised fiscal deficit of 6.4% in 2022-23.
3. Under the Finance Bill, 2023, a number of changes have been made to the new tax regime.

The income limit to avail a rebate and not pay any taxes has increased from Rs 5 lakh to Rs 7 lakh. Further, the number of tax slabs have been reduced from six to five. The surcharge for the highest slab (income over Rs 5 crore) has been cut from 37% to 25%.

The highlights of expenditure of various ministry/department include the following: Defence: The Ministry of Defence has been allocated Rs 5,93,538 crore which is the largest across all ministries and accounts for over 13% of the total expenditure of the central government. Over the last decade, the expenditure of the Ministry as a percentage of GDP has reduced.

In 2023-24, its allocation is estimated to be marginally lower than 2% of GDP. Since 2014-15, the spending on defence pension has been consistently higher than 20% of the total budget and capital outlay has remained below 30% of the budget. Road Transport and Highways: The Ministry has been allocated Rs 2,70,435 crore, 25% higher than the revised estimates of 2022-23.

• Most of the additional allocation (60%) has been earmarked for investment in NHAI.
• Budgetary allocation has increased since NHAI will not borrow from the market.
• Construction of roads is primarily done through public funds.
• Private investment constituted 7% of investment in roads in 2020-21.
• Railways : In 2023-24, Railways is projected to have a marginal revenue surplus, which would fund less than 1% of its capital expenditure plan.92% of capital expenditure will be funded by budgetary support from the central government, and 7% from extra budgetary resources.

The operating ratio (expenditures as proportionate to traffic works receipts) is 98.5%, indicating limited surplus for capital investment. Food and Public Distribution: Allocation for the Department in 2023-24 was 31% lower as compared to the revised estimate of 2022-23.

1. This was due to the discontinuation of the Pradhan Mantri Garib Kalyan Anna Yojana that was announced during the pandemic to provide free foodgrains to eligible beneficiaries.
2. In 2023-24, expenditure on food subsidy is estimated to be Rs 1.97 lakh crore.
3. Updating the coverage of eligible families is an issue as the total number of beneficiaries continues to be based on the 2011 Census.

Home Affairs: The Ministry has been allocated Rs 1,96,035 crore, an increase of 1.1% over the revised estimates for 2022-23. Of the Ministry’s total budget, 65% of the expenditure is on police and 31% is on grants to UTs.74% of the expenditure on police has been allocated to the Central Armed Police.

Issues in the sector include shortages of police personnel and inadequate number of cybercrime cells.24% of the Indo-Bangladesh border remains unfenced. Rural Development: The Ministry of Rural Development was allocated around Rs 1.6 lakh crore for 2023-24, 12% less than the revised estimates of 2022-23.

This is largely due to the decrease in allocation towards the Mahatma Gandhi National Rural Employment Guarantee Scheme (Rs 60,000 crore), which is 33% less than revised estimate for 2022-23. Demand for work under MGNREGS could decrease this year, as the rural economy returns to normal after the pandemic.

1. Allocation towards rural housing increased by 13% in 2023-24, while allocation towards rural roads remained unchanged.
2. Agriculture: The Ministry has been allocated Rs 1,25,036 crore in 2023-24, a 5% increase over the revised estimates of 2022-23.77% of the Ministry’s estimated expenditure is towards three schemes that provide cash transfer, interest subsidy, and crop insurance.

The amount of institutional credit to farmers has risen (7.8% over the past ten years), but loans are primarily being used to meet revenue expenditure in farming or recurring household expenditure. Education: In 2023-24, the estimated expenditure of the Ministry of Education is Rs 1,12,899 crore, a 13% increase from revised estimates for 2022-23.

1. Of this, the Department of School Education and Literacy has been allocated 61% and the Department of Higher Education has been allocated the remaining 39%.33% of the Ministry’s budget has been allocated to Samagra Shiksha Abhiyan.
2. Since 2015, overall allocation towards education has been around 2.8% of the GDP.

Telecommunications : Rs 59,740 crore (56% of the allocation) in 2023-24 is towards the revival package for BSNL and MTNL. No funds were disbursed under the PLI scheme in 2021-22. In 2022-23 also, no funds will be spent towards this scheme as per revised estimates.

Bharatnet and Network for Defence projects have seen significant delays. Jal Shakti: The Ministry of Jal Shakti was allocated Rs 97,278 crore for 2023-24, a 31% increase over the revised estimates for 2022-23. The Jal Jeevan Mission received the highest allocation (Rs 70,000 crore). River Interlinking saw an increase in allocation due to the implementation of the Ken-Betwa Link Project.

Funds have remained underutilised in schemes such as the Swachh Bharat Mission- Gramin, Atal Bhujal Yojana, and Namami Gange. Health and Family Welfare: In 2023-24, the expenditure of the Ministry of Health and Family Welfare is estimated to be Rs 89,155 crore, a 13% increase from revised estimates for 2022-23.

1. The National Health Mission is its largest component, accounting for 33% of the Ministry’s budget and medical colleges and hospitals account for 27% of the budget.
2. High out-of-pocket expenditure and shortage of healthcare personnel remain major issues.
3. Housing and Urban Affairs: In 2023-24, the Ministry of Housing and Urban Affairs has been allocated Rs 76,432 crore, an increase of 2.5% over the revised estimates for 2022-23.

The major items are urban housing (PMAY-U) at Rs 25,103 crore and metro projects at Rs 23,175 crore. Several metro systems are not able to generate required ridership to breakeven. Petroleum and Natural Gas: The Ministry has been allocated Rs 41,008 crore, which is a 21% increase over the revised estimates for 2022-23.

This includes Rs 30,000 crore towards capital support to Oil Marketing Companies via equity infusions. There has been a decrease in allocation towards the LPG subsidy and no allocation has been made towards the kerosene subsidy. There has been an increase in capital outlay towards the creation of caverns and purchase of oil for the Strategic Petroleum Reserves.

Women and Child Development: The Ministry has been allocated Rs 25,449 crore in 2023-24, a 6% increase over the revised estimates of 2022-23. This is spent across three centrally sponsored schemes: Saksham Anganwadi and POSHAN 2.0, Mission Shakti, and Mission Vatsalya.

In the past five years between 2016-17 and 2021-22, the Ministry has underutilised its funds. Environment, Forests, and Climate Change: In 2023-24, the Ministry of Environment, Forests and Climate Change has been allocated Rs 3,079 crore, a 24% increase over the revised estimates of 2022-23. While India has set targets to transition to renewable energy to tackle climate change, availability of adequate finance is a key challenge.

According to experts the overall cost required for India to adapt to climate change by 2030 is expected to be around Rs 86 lakh crore (at 2012 base price). : Union Budget 2023-24 : Analysis of Major Demands

What is the theme of budget 2023 India?

With the theme of ‘ Vasudhaiva Kutumbakam ‘, we are steering an ambitious, people-centric agenda to address global challenges, and to facilitate sustainable economic development. better quality of living and a life of dignity. The per capita income has more than doubled to ` 1.97 lakh.

How many times budget is presented in India in a year?

The Union Budget of India, referred to as the annual Financial Statement in Article 112 of the Constitution of India, is the annual budget of the Republic of India, presented each year on the last working day of February by the Finance Minister of India in Parliament.

What is the gender budget of Kerala?

Gender Budget 2023-24 has been allocated Rs 4670.22 crore within a total Plan outlay of Rs 22,112 crore. This constitutes 21.12 per cent of the total Plan outlay (not including allocations made by Local Self Government Institutions).

Which airport is in up budget 2023?

UP Budget 2023: Noida International Airport Set to Be India’s Largest, To Have Five Runways Instead Of Two

• The upcoming Noida International Airport (NIA) at Jewar in Uttar Pradesh will have five runways instead of two.
• The announcement was made by the Uttar Pradesh Cabinet Minister, Suresh Khanna, this week while presenting the state budget for fiscal year 2023-24 under CM Yogi Adityanath’s second term.
• Phase-wise Expansion
• The airport, billed to be India’s largest upon completion, will be developed in four phases, with two interconnected terminals and an annual passenger capacity of 70 million.

The first phase spread over 1,334 hectare will have one runway, cargo hub along with a terminal that will cater to domestic and international passengers. As per the concession agreement, the first phase for 12 million passengers per annum is to be completed and made operational by September 2024.

1. The first expansion of the airport – construction of the second runway and the terminal building – will start once it reaches 80 per cent of the 12 million passengers per year capacity.
2. Similarly, the development of the third, fourth and fifth runways will begin when footfall increases from 12 million to 30 million, 50 million and 70 million.
3. 25 Per Cent Work Completed
4. The work on the first phase of the Noida Airport is complete by nearly 25 per cent.

Tata Projects, which is the contractor for the project has been carrying out the construction of the terminal building, runway and air traffic control (ATC) in full swing. At present, the concreting work of the terminal piers is continuing, even as the land for the runway is being levelled.

The second phase of the NIA is planned in an area of 1,365 hectare, for which the survey work is currently being undertaken across six villages – Ranhera, Kureb, Dayanatpur, Karauli Bangar, Mundrah, and Birampur in Greater Noida. Also land acquisition for the third runway will begin as the proposal has been approved by the state Cabinet.

Close to 1,335 hectare of land will be required for the project. Later, 2,053 hectare will be needed for the fourth and fifth runways.

• The Jewar airport is understood to be the “most important” project of the state government and is being personally monitored by Chief Minister Yogi Adityanath.
• Adityanath, during his inspection of the airport site in September 2022 had asked the project developers to speed up the airport work, by increasing the number of staff and machines, so that the project is completed by early 2024 and the first flight scheduled for September 2024 takes off on time.
• The greenfield airport at Jewar will enhance domestic as well as international connectivity to and from Delhi-NCR, Noida and Western Uttar Pradesh.

: UP Budget 2023: Noida International Airport Set to Be India’s Largest, To Have Five Runways Instead Of Two

What is the budget of Haryana 20223?

Haryana Budget Analysis 2022-23 The Chief Minister of Haryana, Mr. Manohar Lal Khattar, presented the Budget for the state for the financial year 2022-23 on March 8, 2022. Budget Highlights

The Gross State Domestic Product (GSDP) of the state for 2022-23 (at current prices) is projected to be Rs 9,94,195 crore. This is a growth of 11% over the revised estimate of GSDP for 2021-22 (Rs 8,95,671 crore). In 2021-22, GSDP is estimated to grow at 18% over the previous year (at current prices). Expenditure (excluding debt repayment) in 2022-23 is estimated to be Rs 1,42,204 crore, a 14% increase over the revised estimates of 2021-22 (Rs 1,25,223 crore). In addition, debt of Rs 35,052 crore will be repaid by the state in 2022-23. In 2021-22, expenditure (excluding debt repayment) is estimated to be 2% lower than the budget estimate. Receipts (excluding borrowings) for 2022-23 are estimated to be Rs 1,07,192 crore, an increase of 15% from the revised estimates of 2021-22 (Rs 93,488 crore). In 2021-22, receipts (excluding borrowings) are estimated to be 6% higher than the budget estimate (Rs 88,480 crore). Fiscal deficit for 2022-23 is targeted at Rs 35,012 crore (3.52% of GSDP). In 2021-22, as per the revised estimates, fiscal deficit is expected to be 3.54% of GSDP, lower than the budget estimate of 4.40% of GSDP. Revenue deficit for 2022-23 is estimated to be Rs 9,774 crore, which is 0.98% of the GSDP. In 2021-22, the state is estimated to observe a revenue deficit of 1.40% of GSDP, as compared to a revenue deficit of 3.29% of GSDP estimated at the budget stage.

Policy Highlights

Support to Urban Local Bodies (ULBs) : The Divya Nagar Scheme will be introduced to for the development of infrastructural projects (such as public libraries, and sports facilities) in ULBs. Healthcare : Families with an annual income of up to Rs 1.8 lakh will be provided free basic health check-up once in every two years. Reimbursement on VAT for MSME sector : Industries in the MSME sector will be provided a 50% reimbursement on VAT collected on natural gas (piped or compressed).

Haryana’s Economy GSDP: Haryana’s GSDP (at constant prices) saw a negative growth of 5.7% in 2020-21. In comparison, national GDP registered a negative growth of 6.6% in 2020-21. In 2020-21, the manufacturing and services sector of Haryana witnessed a contraction of 9.7% and 5.7% respectively. Sectors: In 2020-21, at current prices, agriculture, manufacturing, and services sectors contributed to 21%, 28%, and 51% of the economy, respectively. Per capita GSDP: The per capita GSDP of Haryana in 2020-21 (at current prices) was Rs 2,63,649 ; 3.4% lower than the corresponding figure in 2019-20 (Rs 2,72,884). The per capita GDP of Haryana in 2020-21 (at current prices) was significantly higher than the per capita GDP at the national level (Rs 1,46,087 at current prices).

Figure 1 : Growth in GSDP and sectors in Haryana at constant (2011-12) prices Note: These numbers are as per constant (2011-12) prices which implies that the growth rate is adjusted for inflation. Sources: Ministry of Statistics and Programme Implementation; PRS.

Budget Estimates for 2022-23

Expenditure (excluding debt repayment) in 2022-23 is targeted at Rs 1,42,204 crore. This is an increase of 14% over the revised estimate of 2021-22 (Rs 1,25,223 crore). This expenditure is proposed to be met through receipts (excluding borrowings) of Rs 1,07,192 crore and net borrowings of Rs 20,011 crore, Receipts (excluding borrowings) for 2022-23 are expected to register an increase of 15% over the revised estimate of 2021-22. In 2021-22, receipts are estimated to be 6% higher than the budget estimates. In 2022-23, the state is estimated to observe a revenue deficit of Rs 9,774 crore, which is 0.98% of its GSDP. In 2021-22, the state is expected to observe a revenue deficit of Rs 12,523 crore (1.40% of GSDP). Fiscal deficit in 2022-23 is estimated to be 3.52% of GSDP which is lower than the limit of 4% of GSDP permitted by the central government as per the Union Budget 2022-23 (of which, 0.5% of GSDP will be made available upon undertaking power sector reforms). In 2021-22, the state has estimated a fiscal deficit of 3.54% of GSDP, lower than the limit of 4.5% of GSDP permitted by the central government (of which, 0.5% of GSDP becomes available upon undertaking power sector reforms).

Table 1 : Budget 2022-23 – Key figures (in Rs crore)

Items	2020-21 Actuals	2021-22 Budgeted	2021-22 Revised	% change from BE 2021-22 to RE 2021-22	2022-23 Budgeted	% change from RE 2021-22 to BE 2022-23
Total Expenditure	1,26,240	1,55,645	1,53,384	-1%	1,77,256	16%
(-) Repayment of debt	29,498	28,161	28,162	0%	35,052	24%
Net Expenditure (E)	96,742	1,27,484	1,25,223	-2%	1,42,204	14%
Total Receipts	1,21,810	1,46,794	1,39,988	-5%	1,62,255	16%
(-) Borrowings	53,817	58,314	46,500	-20%	55,063	18%
Net Receipts (R)	67,993	88,480	93,488	6%	1,07,192	15%
Fiscal Deficit (E-R)	28,749	39,004	31,734	-19%	35,012	10%
as % of GSDP	3.79%	4.40%	3.54%	3.52%
Revenue Deficit	22,386	29,194	12,523	-57%	9,774	-22%
as % of GSDP	2.95%	3.29%	1.40%	0.98%
Primary Deficit	11,634	19,227	12,344	-36%	14,018	14%
as % of GSDP	1.53%	2.17%	1.38%	1.41%

Note: BE: Budget Estimates; RE: Revised Estimates. Sources: Haryana Budget Documents 2022-23; PRS.

Revenue expenditure in 2022-23 is estimated to be 1,16,199 crore, which is an increase of 11% over the revised estimate of 2021-22 (Rs 1,05,119 crore). This expenditure includes the payment of salaries, pensions, interest, and subsidies. In 2021-22, as per the revised estimates, revenue expenditure is estimated to be 10% lower than the budget estimate. Capital outlay in 2022-23 is estimated to be Rs 22,344 crore, which is an increase of 51% over the revised estimate of 2021-22, Capital outlay comprises expenditure towards creation of assets. This includes expenditure on building schools, hospitals, and roads and bridges. In 2021-22, capital outlay is estimated to be 59% higher than the budget estimate. Note that the state is estimating Rs 1,100 crore from the central government as loans for capital asset creation. In the 2022-23 Union Budget, it was announced that one lakh crore rupees will be allocated to states for catalysing investments, in the form of 50 year interest free loans.

Committed Expenditure In 2020-21 (actuals), Haryana’s committed expenditure was Rs 48,750 crore which was 72% of its revenue receipts. Committed expenditure of a state typically includes expenditure on payment of salaries, pensions, and interest. In 2021-22 BE, states on aggregate budgeted to spend 55% of their revenue receipts on committed expenditure. However, Haryana estimated to spend 63% of its revenue receipts on committed expenditure. Note that in the revised estimates of 2021-22, Haryana has estimated to spend 58% of its revenue receipts on committed expenditure and 57% in 2022-23. Increased committed expenditure leaves less room for spending on capital outlay. In 2020-21, the state’s capital outlay was Rs 5,870 crore which was 56% lower than the budget estimates (Rs 13,201 crore).

Table 2 : Expenditure Budget 2022-23 (in Rs crore)

Items	2020-21 Actuals	2021-22 Budgeted	2021-22 Revised	% change from BE 2021-22 to RE 2021-22	2022-23 Budgeted	% change from RE 2021-22 to BE 2022-23
Revenue Expenditure	89,947	1,16,927	1,05,119	-10%	1,16,199	11%
Capital Outlay	5,870	9,318	14,772	59%	22,344	51%
Loans given by the state	926	1,239	5,331	330%	3,662	-31%
Net Expenditure	96,742	1,27,484	1,25,223	-2%	1,42,204	14%

Sources: Haryana Budget Documents 2022-23; PRS. Committed expenditure: Committed expenditure of a state typically includes expenditure on payment of salaries, pensions, and interest. Allocation of a large portion of the budget towards committed expenditure items limits the state’s flexibility to decide on other expenditure priorities such as developmental schemes and capital outlay.

1. In 2022-23, Haryana is estimated to spend Rs 60,633 crore on committed expenditure items, which is 57% of its revenue receipts,
2. This comprises spending on salaries (27% of revenue receipts), interest payments (20%), and pension (11%).
3. Committed expenditure in 2022-23 is estimated to increase by 12% over the revised estimate of 2021-22.

Spending on salaries is estimated to increase by 19% and spending on interest payments and pension is estimated to increase by 8% and 4% respectively. Table 3 : Committed Expenditure in 2022-23 (in Rs crore)

Committed Expenditure	2020-21 Actuals	2021-22 Budgeted	2021-22 Revised	% change from BE 2021-22 to RE 2021-22	2022-23 Budgeted	% change from RE 2021-22 to BE 2022-23
Salaries	21,923	26,478	23,894	-10%	28,438	19%
Pension	9,713	9,200	10,801	17%	11,201	4%
Interest	17,115	19,776	19,390	-2%	20,994	8%
Committed Expenditure	48,750	55,454	54,084	-2%	60,633	12%

Sources: Haryana Budget Documents 2022-23; PRS. Sector-wise expenditure: The sectors listed below account for 63% of the total expenditure on sectors by the state in 2022-23. A comparison of Haryana’s expenditure on the key sectors with that by other states is shown in Annexure 1. Table 4 : Sector-wise expenditure under Haryana Budget 2022-23 (in Rs crore)

Sector	2020-21 Actuals	2021-22 Budgeted	2021-22 Revised	2022-23 Budgeted	% change from RE 2021-22 to BE 2022-23	Budget Provisions
Education, Sports, Arts, and Culture	14,439	18,891	16,570	19,711	19%	Rs 500 crore has been allocated to Sarva Shiksha Abhiyaan. Rs 321 crore has been allocated to Mid-Day Meals Scheme.
Social Welfare and Nutrition	9,751	9,970	10,840	12,098	12%	Rs 6,826 crore has been allocated for pension under social security schemes.
Health and Family Welfare	5,847	7,317	7,284	8,595	18%	Rs 883 crore has been allocated towards strengthening urban hospitals and dispensaries. Rs 52 crore has been allocated towards National Urban Health Mission.
Urban Development	4,181	5,155	7,345	7,990	9%	Rs 4,555 crore has been allocated towards capital outlay on urban development.
Energy	6,315	7,162	7,821	7,190	-8%	Rs 768 crore has been allocated towards capital outlay on power projects. Rs 483 crore has been allocated towards subsidised tariff to domestic consumers.
Rural Development	4,596	6,017	3,752	6,867	83%	Rs 105 crore has been allocated towards Swarnajayanti Gram Swarozgar Yojana.
Transport	3,956	5,161	6,494	6,533	1%	Rs 2,040 crore has been allocated towards capital outlay on roads and bridges.
Police	4,779	5,768	5,955	6,377	7%	Rs 4,641 crore has been allocated towards district police.
Irrigation and Flood Control	2,940	5,162	4,118	6,204	51%	Rs 1,879 crore has been allocated towards capital outlay on major irrigation.
Agriculture and allied activities	3,034	4,386	6,734	6,026	-11%	Rs 600 crore has been allocated towards Pradhanmantri Fasal Bima Yojana.
% of total expenditure on all sectors	62%	59%	64%	63%

Sources: Haryana Budget Documents 2022-23; PRS. Receipts in 2022-23

Total revenue receipts for 2022-23 are estimated to be Rs 1,06,425 crore, an increase of 15% over the revised estimate of 2021-22. Of this, Rs 85,993 crore (81%) will be raised by the state through its own resources (tax and non-tax revenue), and Rs 20,492 crore (19%) will come from the centre. Resources from the centre will be in the form of state’s share in central taxes (8% of revenue receipts) and grants (11% of revenue receipts). Devolution: In 2022-23, the state estimates to receive Rs 8,926 crore in the form of share in central taxes, an increase of 3% over the revised estimates of 2021-22. State’s own tax revenue: In 2022-23, total own tax revenue of the state is estimated to be Rs 73,728 crore, an increase of 13% over the revised estimate of 2021-22. State’s own tax revenue as a percentage of GSDP is estimated to rise from 5.5% of GSDP in 2020-21 (as per actuals) to 7.4% of GSDP in 2022-23 (as per budget estimate). In 2021-22, own tax as percentage of GSDP has been revised to 7.3% of GSDP as compared to the budget estimate of 6.0% of GSDP. State’s non-tax revenue : In 2022-23, the state is estimated to earn Rs 12,205 crore in the form of own non-tax revenue, a 32% increase over the revised estimates of 2021-22. In 2021-22, state’s own non-tax revenue is estimated to register a decrease of 15% over the budget estimates.

Table 5 : Break-up of the state government’s receipts (in Rs crore)

Items	2020-21 Actuals	2021-22 Budgeted	2021-22 Revised	% change from BE 2021-22 to RE 2021-22	2022-23 Budgeted	% change from RE 2021-22 to BE 2022-23
State’s Own Tax	41,914	52,888	64,992	23%	73,728	13%
State’s Own Non-Tax	6,961	10,851	9,227	-15%	12,205	32%
Share in Central Taxes	6,438	7,275	8,683	19%	8,926	3%
Grants from Centre	12,248	16,720	9,695	-42%	11,566	19%
Revenue Receipts	67,561	87,733	92,596	6%	1,06,425	15%
Non-debt Capital Receipts	432	747	893	19%	767	-14%
Net Receipts	67,993	88,480	93,488	6%	1,07,192	15%

Note: BE: Budget Estimates; RE: Revised Estimates. Sources: Haryana Budget Documents 2022-23; PRS.

In 2022-23, SGST is estimated to be the largest source of own tax revenue (45%). SGST revenue in 2022-23 is estimated at Rs 32,825 crore, which is a 1% increase over the revised estimates of 2021-22. In 2021-22 as per revised estimates, SGST revenue is estimated to be 33% higher than the budget estimate. In 2022-23, revenue from state excise is expected to increase by 38% over revised estimates of 2021-22. State excise is the third largest (16%) source of own tax revenue after SGST and sales tax/VAT in 2022-23. Sales tax/VAT is estimated to increase by 16% in 2022-23 over 2021-22 revised estimates.

GST Compensation ends in June 2022 When the GST was introduced, the central government guaranteed states a 14% compounded annual growth in their GST revenue for a period of five years. Any shortfall in a state’s GST revenue from this level is covered by the Centre by providing compensation grants to the state. This guarantee ends in June 2022. During 2018-22, Haryana has relied on GST compensation grants to achieve the guaranteed SGST revenue level. In 2021-22, Haryana is estimated to receive Rs 9,715 crore in the form of GST compensation grants, which is about 15% of its own tax revenue. Hence, beyond June 2022, Haryana might see a decline in the level of revenue receipts.

Table 6 : Major sources of state’s own-tax revenue (in Rs crore)

Head	2020-21 Actuals	2021-22 Budgeted	2021-22 Revised	% change from BE 2021-22 to RE 2021-22	2022-23 Budgeted	% change from RE 2021-22 to BE 2022-23
State GST	18,236	24,300	32,359	33%	32,825	1%
Sales Tax/ VAT	8,660	11,000	12,140	10%	14,100	16%
State Excise	6,864	9,200	8,710	-5%	12,030	38%
Stamps Duty and Registration Fees	5,157	5,000	8,100	62%	9,720	20%
Taxes on Vehicles	2,495	3,003	3,303	10%	4,450	35%
Land Revenue	17	25	25	0%	48	92%
Taxes and Duties on Electricity	476	345	345	0%	545	58%
GST Compensation Grants	5,066	9,200	2,321	-75%	2,400	3%
GST Compensation Loans	4,352	NA	NA	–	NA	–
Total GST Compensation	9,418	9,200	2,321	-75%	2,400	3%

Sources: Haryana Budget Documents 2022-23; PRS. Deficits and Debt Targets for 2022-23 The Haryana Fiscal Responsibility and Budget Management (FRBM) Act, 2005 provides annual targets to progressively reduce the outstanding liabilities, revenue deficit, and fiscal deficit of the state government.

Revenue Balance: It is the difference of revenue expenditure and revenue receipts. A revenue deficit implies that the government needs to borrow to finance its expenses which do not increase its assets or reduces its liabilities. In 2022-23, Haryana is estimated to observe a revenue deficit of Rs 9,774 crore, which is 0.98% of the GSDP.

In 2020-21 the state observed a revenue deficit of Rs 22,386 crore (2.95% of GSDP). According to 2021-22 revised estimates, Haryana is expected to have a revenue deficit of Rs 12,523 crore (1.40% GSDP).15 th Finance Commission has recommended grants for eliminating revenue deficit to 17 states during the 2021-26 period.

Haryana will receive Rs 132 crore in 2021-22 as revenue deficit grants. However, in the 2021-22 revised estimates Haryana is estimated to receive Rs 165 crore (25% increase from the budget estimates). In 2022-23 revenue deficit grants are estimated to be Rs 658 crore. Note that the 15 th Finance Commission recommended revenue deficit grants for Haryana only for 2021-22.

However, Haryana has budgeted revenue deficit grants in 2022-23. Fiscal deficit : It is the excess of total expenditure over total receipts. This gap is filled by borrowings by the government and leads to an increase in total liabilities of the state government.

1. In 2022-23, the fiscal deficit is estimated to be Rs 35,012 crore (3.52% of GSDP).
2. It is lower than the limit of 4% of GSDP permitted by the central government in 2022-23 as per the Union Budget (of which, 0.5% of GSDP will be made available upon undertaking power sector reforms).
3. As per the revised estimates, in 2021-22, the fiscal deficit of the state is expected to be 3.54% of GSDP, which is more than the budget estimate of 4.40% of GSDP.

It is within the 4.5% limit permitted by the central government for 2021-22 (of which, 0.5% of GSDP becomes available upon undertaking power sector reforms). Outstanding liabilities : Outstanding liabilities is the accumulation of total borrowings at the end of a financial year, it also includes any liabilities on public account.

Figure 2 : Revenue and Fiscal Balance (% of GSDP) Note: RE: Revised Estimates; BE: Budget Estimates. A positive figure means a surplus, a negative figure means a deficit. Sources: Haryana Budget Documents 2022-23; PRS.

Figure 3 : Outstanding Liabilities (% of GSDP) Note: RE: Revised Estimates; BE: Budget Estimates. Sources: Haryana Budget Documents 2022-23; PRS.

Annexure 1: Comparison of states’ expenditure on key sectors The graphs below compare Haryana’s expenditure on six key sectors as a proportion of its total expenditure on all sectors. The average for a sector indicates the average expenditure in that sector by 30 states (including Haryana) as per their budget estimates of 2021-22.

Education: Haryana has allocated 14.2% of its total expenditure for education in 2022-23. This is lower than the average allocation (15.2%) for education by all states (as per 2021-22 Budget Estimates). Health: Haryana has allocated 6.2% of its total expenditure on health, which is higher than the average allocation for health by states (6%). Agriculture: The state has allocated 4.3% of its total expenditure towards agriculture and allied activities. This is lower than the average allocation for agriculture by states (6.2%). Rural development: Haryana has allocated 5.0% of its expenditure on rural development. This is lower than the average allocation for rural development by states (5.7%). Police: Haryana has allocated 4.6% of its total expenditure on police, which is higher than the average expenditure on police by states (4.3%). Roads and bridges: Haryana has allocated 2.1% of its total expenditure on roads and bridges, which is lower than the average allocation by states (4.7%).

Note: BE: Budget Estimates; RE: Revised Estimates; 2020-21, 2021-22 (BE), 2021-22 (RE), and 2022-23 (BE) figures are for Haryana. Sources: Haryana Budget Documents 2022-23; various state budgets; PRS. Annexure 2: Comparison of 2020-21 Budget Estimates and Actuals The following tables compare the actuals of 2020-21 with budget estimates for that year.

Particular	2020-21 BE	2020-21 Actuals	% change from BE to Actuals
Net Receipts (1+2)	67,970	67,993	0.0%
1. Revenue Receipts (a+b+c+d)	67,614	67,561	-0.1%
a. Own Tax Revenue	29,746	41,914	41%
b. Own Non-Tax Revenue	15,428	6,961	-55%
c. Share in central taxes	8,485	6,438	-24%
d. Grants-in-aid from the Centre	13,955	12,248	-12%
Of which GST compensation grants	7,000	5,066	-28%
2. Non-Debt Capital Receipts	356	432	21%
3. Borrowings	44,439	53,817	21%
Of which GST compensation loan	–	4,352	–
Net Expenditure (4+5+6)	1,19,752	96,742	-19%
4. Revenue Expenditure	1,05,338	89,947	-15%
5. Capital Outlay	13,201	5,870	-56%
6. Loans and Advances	1,213	926	-24%
7. Debt Repayment	22,592	29,498	31%
Revenue Deficit	15,374	22,386	46%
Revenue Deficit (as % of GSDP)	1.64%	2.95%	–
Fiscal Deficit	25,682	28,749	12%
Fiscal Deficit (as % of GSDP)	2.73%	3.79%	–

Note: *A negative revenue balance indicates a deficit. BE: Budget Estimates. Sources: Haryana Budget Documents of various years; PRS. Table 8 : Key Components of State’s Own Tax Revenue (in Rs crore)

Sector	2020-21 BE	2020-21 Actuals	% change from BE to Actuals
Land Revenue	28	17	-41%
Sales Tax/VAT	10,702	6,864	-36%
Stamps Duty and Registration Fees	7,500	5,157	-31%
Taxes on Vehicles	3,616	2,495	-31%
SGST	22,350	18,236	-18%
State Excise Duty	7,500	8,660	15%
Taxes and Duties on Electricity	360	476	32%

Note: BE: Budget Estimates. Sources: Haryana Budget Documents of various years; PRS. Table 9 : Allocation towards Key Sectors (in Rs crore)

Sector	2020-21 BE	2020-21 Actuals	% change from BE to Actuals
Agriculture and allied activities	5,950	3,034	-49%
Irrigation and Flood Control	5,020	2,940	-41%
Urban Development	6,549	4,181	-36%
Education, Sports, Arts, and Culture	20,169	14,439	-28%
Welfare of SC, ST, OBC, and Minorities	521	376	-28%
Transport	5,473	3,956	-28%
Rural Development	6,327	4,596	-27%
Roads and Bridges	3,008	2,187	-27%
Housing	197	154	-22%
Energy	7,437	6,315	-15%
Police	5,580	4,779	-14%
Water Supply and Sanitation	3,576	3,174	-11%
Health and Family Welfare	6,512	5,847	-10%
Social Welfare and Nutrition	10,168	9,751	-4%

Note: BE: Budget Estimates. Sources: Haryana Budget Documents of various years; PRS. The 30 states include the Union Territory of Delhi and Union Territory of Jammu and Kashmir. DISCLAIMER: This document is being furnished to you for your information. You may choose to reproduce or redistribute this report for non-commercial purposes in part or in full to any other person with due acknowledgement of PRS Legislative Research (“PRS”).

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: Haryana Budget Analysis 2022-23

What is the budget of Odisha govt?

Odisha Budget Analysis 2023-24 The Finance Minister of Odisha, Mr. Niranjan Pujari, presented the Budget for the state for the financial year 2023-24 on February 24, 2023. Budget Highlights

• The Gross State Domestic Product (GSDP) of Odisha for 2023-24 (at current prices) is projected to be Rs 8.65 lakh crore, amounting to growth of 12.9% over 2022-23.
• Expenditure (excluding debt repayment) in 2023-24 is estimated to be Rs 2,11,214 crore, an increase of 14% over the revised estimate of 2022-23. In addition, debt of Rs 18,786 crore will be repaid by the state.
• Receipts (excluding borrowings) for 2023-24 are estimated to be Rs 1,85,370 crore, an increase of 13% as compared to the revised estimate of 2022-23. In 2022-23, receipts (excluding borrowings) are estimated marginally fall short of the budget estimate by Rs 245 crore.
• Revenue surplus in 2023-24 is estimated to be 3.1% of GSDP (Rs 26,739 crore), higher than the revised estimate for 2022-23 (2.3% of GSDP). In 2022-23, the revenue surplus is expected to be lower than the budget estimate (2.5% of GSDP).
• Fiscal deficit for 2023-24 is targeted at 3% of GSDP (Rs 25,844 crore). In 2022-23, as per the revised estimates, fiscal deficit is expected to be 2.9% of GSDP, marginally lower than the budget estimate of 3% of GSDP. The state had a fiscal surplus of Rs 20,627 crore in 2021-22 (3.1% of GSDP). This was due to a significant increase in the state’s own non-tax revenue (mainly mining) and lower expenditure than budgeted.

Policy Highlights

• MSMEs: A new scheme will be launched to provide interest subvention on working capital loan to MSMEs. A new procurement policy will be formulated to make it mandatory for Odisha government entities to procure from micro and small manufacturing units of Odisha.
• Tribal Livelihood Promotion: Mukhyamantri Janajati Jeebika Mission will be launched to mitigate critical infrastructural needs incidental to livelihood promotion. It will cover 14.5 lakh households in Phase-I.
• AMA Hospital: A new scheme will be started for upgradation of public health facilities.
• Biju Expressway-II : 4-lane connectivity will be provided from Berhampur to Jeypore.
• Forest Protection : The Mukhyamantri Van Surakshya Kendra initiative will be launched to build 10,000 kendras in the areas of Van Suraksha Samiti to promote forest conservation at the grassroot level.
• Odisha Chip Program : A new centre of excellence will be set up to create an ecosystem in the field of electronics design and manufacturing.

Odisha’s Economy GSDP: In 2022-23, Odisha’s GSDP (at constant prices) is estimated to grow at 7.8%. In comparison, national GDP is estimated to grow at 7% in 2022-23. Sectors: In 2021-22, agriculture, manufacturing, and services sectors are estimated to contribute 29%, 31%, and 40% of Odisha’s economy, respectively (at current prices). Unemployment : As per the Periodic Labour Force Survey (July 2021-June 2022), unemployment rate in Odisha was 6%, higher than the unemployment rate at the national level (4.1%). For 15-29 years age group, unemployment rate in Odisha was 19.8%, higher than the national level (12.4%).

Figure 1 : Growth in GSDP in Odisha at constant prices (2011-12) vis-à-vis growth in National GDP Note: These numbers are as per constant prices (2011-12) which implies that the growth rate is adjusted for inflation. Sources: FRBM Statement, Odisha Budget 2023-24; Union Economic Survey 2022-23; PRS.

Budget Estimates for 2023-24

• Total expenditure (excluding debt repayment) in 2023-24 is targeted at Rs 2,11,214 crore. This is an increase of 14% over the revised estimate of 2022-23. This expenditure is proposed to be met through receipts (excluding borrowings) of Rs 1,85,370 crore, net borrowings of Rs 14,844 crore, and Rs 11,000 crore from public account. Total receipts for 2023-24 (other than borrowings) are expected to register an increase of 13% over the revised estimate of 2022-23.
• Revenue surplus in 2023-24 is estimated to be 3.1% of GSDP (Rs 26,739 crore), higher than the revised estimate for 2022-23 (2.3% of GSDP). Fiscal deficit for 2023-24 is targeted at 3% of GSDP (Rs 25,844 crore), marginally higher than the revised estimate for 2022-23 (2.9% of GSDP).
• Revenue surplus is estimated to be 4% lower than the budget estimate. This is due to a marginal increase in revenue expenditure and a marginal decrease in revenue receipts.

Table 1 : Budget 2023-24 – Key figures (in Rs crore)

Items	2021-22 Actuals	2022-23 BE	2022-23 RE	% change from BE 22-23 to RE 22-23	2023-24 BE	% change from RE 22-23 to BE 23-24
Total Expenditure	1,53,797	2,00,000	2,00,000	0%	2,30,000	15%
(-) Repayment of debt	19,798	14,001	14,001	0%	18,786	34%
Net Expenditure (E)	1,33,999	1,85,999	1,85,999	0%	2,11,214	14%
Total Receipts	1,67,406	1,89,000	1,77,000	-6%	2,19,000	24%
(-) Borrowings	12,780	24,589	12,834	-48%	33,630	162%
Net Receipts (R)	1,54,626	1,64,411	1,64,166	0%	1,85,370	13%
Fiscal Balance* (R-E)	20,627	-21,588	-21,833	1%	-25,844	18%
as % of GSDP	3.1%	-3.0%	-2.9%		-3.0%
Revenue Balance*	43,472	18,239	17,461	-4%	26,739	53%
as % of GSDP	6.6%	2.5%	2.3%		3.1%
Primary Balance*	26,970	-13,121	-14,836	13%	-18,603	25%
as % of GSDP	4.1%	-1.8%	-1.9%		-2.2%

Note: BE is Budget Estimates; RE is Revised Estimates. *(+) sign indicates a surplus and (-) indicates a deficit. Sources: Annual Financial Statement, Budget at a Glance, FRBM Statement, Odisha Budget 2023-24; PRS. Expenditure in 2023-24

• Revenue expenditure for 2023-24 is proposed to be Rs 1,57,761 crore, an increase of 8% over the revised estimate of 2022-23. This includes the expenditure on salaries, pensions, interest, grants, and subsidies. In 2022-23, revenue expenditure is estimated to be marginally higher than the budget estimate.
• Capital outlay for 2023-24 is proposed to be Rs 51,683 crore, an increase of 35% over the revised estimate of 2022-23. Capital outlay indicates the expenditure towards creation of assets. Sectors such as water supply and sanitation, health and family welfare, and roads and bridges have seen a significant increase in allocation towards capital outlay.

Spending towards Subsidy In 2023-24, the state has estimated to spend Rs 2,997 crore towards subsidy, which is 1.6% of revenue receipts. Subsidy in 2023-24 is estimated to be 25% lower than 2022-23 (Rs 4,002 crore as per revised estimates). Sharp reduction is estimated in subsidy towards medium and large enterprises, popularisation of agricultural implements, equipment and diesel pump sets, and other relief measures. Subsidy towards the public distribution system (PDS) has the highest share in the total subsidy in both 2022-23 and 2023-24. The allocation towards subsidy for PDS is estimated to be Rs 1,015 crore in 2023-24, a decrease of 13% over the revised estimate of 2022-23 (Rs 1,169 crore).

Table 2 : Expenditure budget 2023-24 (in Rs crore)

Items	2021-22 Actuals	2022-23 BE	2022-23 RE	% change from BE 22-23 to RE 22-23	2023-24 BE	% change from RE 22-23 to BE 23-24
Revenue Expenditure	1,09,588	1,45,727	1,46,039	0%	1,57,761	8%
Capital Outlay	22,725	38,732	38,319	-1%	51,683	35%
Loans given by the state	1,686	1,539	1,640	7%	1,770	8%
Net Expenditure	1,33,999	1,85,999	1,85,999	0%	2,11,214	14%

Sources: Annual Financial Statement, Odisha Budget 2023-24; PRS. Committed expenditure: Committed expenditure of a state typically includes expenditure on payment of salaries, pension, and interest. In 2023-24, Odisha is estimated to spend Rs 59,673 crore on committed expenditure, which is 32% of its estimated revenue receipts.

This comprises spending on salaries (18% of revenue receipts), pension (11%), and interest payments (4%). In 2023-24, expenditure on pension is expected to increase by 25% over the revised estimate of 2022-23. In 2022-23, expenditure towards pension and interest is estimated to be 12% and 17% lower than the budget estimate, respectively.

Table 3 : Committed Expenditure in 2023-24 (in Rs crore)

Items	2021-22 Actuals	2022-23 BE	2022-23 RE	% change from BE 22-23 to RE 22-23	2023-24 BE	% change from RE 22-23 to BE 23-24
Salaries	26,269	29,240	29,440	1%	32,453	10%
Pension	16,459	18,221	15,976	-12%	19,980	25%
Interest Payment	6,342	8,467	6,996	-17%	7,241	3%
Total Committed Expenditure	49,070	55,928	52,413	-6%	59,673	14%

Note: The People’s Guide document provides figures for salary as % of total budget, the figures for salaries in the above table have been back calculated using that statement. Sources: FRBM Statement, Annual Financial Statement, People’s Guide Statement, Odisha Budget 2023-24; PRS.

Sectors	2021-22 Actuals	2022-23 BE	2022-23 RE	2023-24 BE	% change from RE 22-23 to BE 23-24	Budget Provisions 2023-24 BE
Education, Sports, Arts, and Culture	19,720	24,994	26,175	27,593	5%	Odisha Adarsh Vidyalaya programme and Mo School Abhiyan has been allocated Rs 842 crore and Rs 805 crore, respectively.
Roads and Bridges	8,671	14,454	14,615	16,528	13%	Rs 13,327 crore has been allocated towards capital outlay on roads and bridges.
Health and Family Welfare	10,433	12,490	13,142	15,933	21%	Rs 3,003 crore has been allocated towards Mukhya Mantri Swasthya Seva Mission. Rs 2,380 crore has been towards the Biju Swasthya Kalyan Yojana.
Rural Development	10,539	14,298	13,353	14,795	11%	Rs 5,934 crore has been allocated under the Pradhan Mantri Awas Yojana-Gramin. Rs 3,300 crore has been allocated towards MGNREGS.
Water Supply and Sanitation	6,994	11,048	9,710	13,025	34%	Rs 5,750 crore has been allocated towards the Jal Jeevan Mission. Rs 4,750 crore has been allocated towards the BASUDHA scheme to provide potable water to rural areas.
Social Welfare and Nutrition	9,399	11,341	11,378	12,760	12%	Rs 2,501 crore has been allocated towards Madhubabu Pension Yojana.
Agriculture and Allied Activities	10,080	12,128	11,946	12,671	6%	Rs 1,879 crore has been allocated to the KALIA (Krushak Assistance for Livelihood and Income Augmentation). Rs 497 crore has been allocated towards Odisha Millet Mission.
Irrigation and Flood Control	7,112	10,896	11,390	11,536	1%	Rs 8,549 crore has been allocated towards capital outlay on irrigation projects.
Urban Development	2,338	4,580	4,385	4,906	12%	Rs 996 crore has been allocated towards the AMRUT scheme. Rs 300 crore has been allocated towards new city development.
Police	3,765	4,360	4,388	4,489	2%	Rs 2,103 crore has been allocated to the district police.
% of total expenditure on all sectors	67`%	65%	65%	64%	-2%

Sources: Annual Financial Statement, People’s Guide Statement, Odisha Budget 2023-24; PRS. Receipts in 2023-24

• Total revenue receipts for 2023-24 are estimated to be Rs 1,84,500 crore, an increase of 13% over the revised estimate of 2022-23. Of this, Rs 1,05,500 crore (57%) will be raised by the state through its own resources, and Rs 79,000 crore (43%) will come from the centre. Resources from the centre will be in the form of state’s share in central taxes (25% of revenue receipts) and grants (18% of revenue receipts).
• State’s own tax revenue: Odisha’s total own tax revenue is estimated to be Rs 53,000 crore in 2023-24, an increase of 13% over the revised estimate of 2022-23. Own tax revenue as a percentage of GSDP is estimated at 6.1% in 2023-24. For 2022-23, the state had estimated this ratio at 6.4% at the budget stage, however, as per revised estimates, it is expected to be lower (6.1%).
• State’s own non-tax revenue : Own non-tax revenue is estimated to be Rs 52,500 crore, an increase of 13% over the revised estimate of 2022-23. Between 2021-22 and 2023-24, own non-tax revenue is estimated to range between 6%-8% of GSDP, significantly higher than average non-tax revenue earned by state governments (about 1.3% of GSDP).
• Devolution: In 2023-24, state’s share in central taxes is estimated at Rs 46,251 crore, an increase of 8% over the revised estimate of 2022-23.
• Grants-in-aid from Centre in 2023-24 is estimated at Rs 32,749 crore, an increase of 21% over the revised estimate for 2022-23. A high increase in grants from centre is owing to expected increase in grants for centrally sponsored schemes (20% increase) and GST compensation grant (87%). The state has budgeted a receipt of Rs 4,157 crore in the form of GST compensation grant, substantially higher than 2022-23 (Rs 2,218 crore). Note that GST compensation grant was available only up to June 2022. The receipt in 2023-24 may have been budgeted on account of any pending receipts for the period up to June 2022, or for servicing back-to-back loan in lieu of compensation given in 2020-21 and 2021-22.

Table 5 : Break-up of the state government’s receipts (in Rs crore)

Sources	2021-22 Actuals	2022-23 BE	2022-23 RE	% change from BE 22-23 to RE 22-23	2023-24 BE	% change from RE 22-23 to BE 23-24
State’s Own Tax	40,748	46,000	47,000	2%	53,000	13%
State’s Own Non-Tax	54,257	48,200	46,500	-4%	52,500	13%
Share in Central Taxes	38,145	36,978	42,989	16%	46,251	8%
Grants-in-aid from Centre	19,910	32,789	27,011	-18%	32,749	21%
Revenue Receipts	1,53,059	1,63,967	1,63,500	0%	1,84,500	13%
Non-debt Capital Receipts	1,566	444	666	50%	870	31%
Net Receipts	1,54,626	1,64,411	1,64,166	0%	1,85,370	13%

Note: BE is Budget Estimates; RE is Revised Estimates. Sources: Annual Financial Statement, Odisha Budget 2023-24; PRS.

• In 2023-24, State GST is estimated to be the largest source of own tax revenue (42% share). State GST revenue is estimated to increase by 14% over the revised estimate of 2022-23.
• In 2022-23, receipts from key tax sources such as Sales Tax/VAT, Stamps Duty, and State Excise are expected to be higher than the budget estimate. In 2023-24, receipts from these sources are expected to increase by 12% each.

Table 6 : Major sources of state’s own-tax revenue (in Rs crore)

Taxes	2021-22 Actuals	2022-23 BE	2022-23 RE	% change from BE 22-23 to RE 22-23	2023-24 BE	% change from RE 22-23 to BE 23-24
State GST	16,392	19,479	19,242	-1%	22,004	14%
Sales Tax/ VAT	10,000	11,208	11,801	5%	13,273	12%
State Excise	5,528	6,496	6,882	6%	7,740	12%
Taxes and Duties on Electricity	3,717	3,789	3,725	-2%	3,935	6%
Stamps Duty and Registration Fees	2,419	2,010	2,179	8%	2,451	12%
Taxes on Vehicles	1,664	2,103	1,979	-6%	2,226	12%
Land Revenue	664	610	750	23%	815	9%
GST Compensation Grants	2,466	6,226	2,218	-64%	4,157	87%
GST Compensation Loans	6,430	–	–	–	–

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Sources: Annual Financial Statement, Revenue and Receipts, Odisha Budget 2023-24; PRS.

Deficits, Debt, and FRBM Targets for 2023-24

The Odisha Fiscal Responsibility and Budget Management Act, 2005 provides annual targets to progressively reduce the outstanding liabilities, revenue deficit and fiscal deficit of the state government.

Fiscal Risk due to Natural Disasters The Fiscal Risk Statement under the Odisha Budget 2023-24 identified natural disasters as a source of high risk to government finances. Its impact could include loss of life and property, crop failure, migration, indebtedness among people, and a dent in economic growth. The statement estimated an economic loss of about Rs 24,991 crore between 2014 and 2022 due to natural disasters. It noted that in addition to frequent tropical cyclones, the frequency of drought and flood is increasing every year. It observed that it is critical to frame an appropriate fiscal policy to address this challenge, as extreme climatic events are expected to rise. The state government maintains the State Disaster Response and Mitigation Fund. As per the statement, the annual contribution to this fund is about 0.3% of GSDP. The 15 th Finance Commission had also recommended state-specific grants for disaster management. For Odisha, it had recommended a grant of Rs 800 crore for early warning dissemination system in cyclone-prone areas.

Revenue Balance : It is the difference of revenue receipts and revenue expenditure. A revenue surplus implies that the government’ revenue is sufficient to cover expenses which do not increase its assets or reduces its liabilities. The budget estimates a revenue surplus of Rs 26,739 crore (or 3.1% of the GSDP) in 2023-24.

In 2022-23, the revenue surplus is expected to be Rs 17,461 crore (2.3% of GSDP) as per the revised estimates, which is slightly lower than the budget estimate of 18,239 crore (2.5% of GSDP). The revenue surplus is projected to increase to 3.7% of GSDP by 2025-26. Fiscal Deficit : It is the excess of total expenditure over total receipts.

This gap is filled by borrowings by the government and leads to an increase in total liabilities. In 2023-24, the fiscal deficit is estimated to be 3% of GSDP. For 2023-24, the central government has permitted fiscal deficit of up to 3.5% of GSDP to states, of which 0.5% of GSDP will be available only upon carrying out certain power sector reforms.

• As per the revised estimates, in 2022-23, the fiscal deficit of the state is expected to be 2.9% of GSDP, which is lower than the budget estimate of 3% of GSDP.
• In 2021-22, the state observed a fiscal surplus, primarily due to a 171% increase in its own non-tax revenue (mainly from mining), and expenditure being 9% lower than budgeted.

Fiscal deficit is projected to be kept constant at 3% of GSDP till 2025-26. Outstanding Public Debt : Outstanding Public Debt is the accumulation of total borrowings at the end of a financial year. It does not include other liabilities such as those on public accounts.

At the end of 2023-24, the outstanding public debt is estimated to be 13.1% of GSDP, higher than the revised estimate for 2022-23 (12.7% of GSDP). The outstanding public debt has lowered significantly as compared to 2020-21 (19.2% of GSDP). This is due to significantly high non-tax revenue since 2021-22 (mainly revenue from mining), which has reduced the dependence on borrowings to fund expenditure.

Outstanding public debt is projected to rise to 15.8% of GSDP at the end of 2025-26. Outstanding Government Guarantees: Outstanding liabilities of states do not include a few other liabilities that are contingent in nature, which states may have to honour in certain cases.

Figure 2 : Revenue and Fiscal Balance (% of GSDP) Note: *Figures for 2024-25 and 2025-26 are projections; (+) sign indicates a surplus and (-) indicates a deficit. RE is Revised Estimates; BE is budget estimates. Sources: FRBM Statement, Odisha Budget 2023-24; PRS.

Figure 3 : Outstanding Public Debt (% of GSDP) Note: *Figures for 2024-25 and 2025-26 are projections; RE: Revised Estimates; BE: Budget Estimates. Sources: FRBM Statement, Odisha Budget 2023-24; PRS

Annexure 1: Comparison of states’ expenditure on key sectors The graphs below compare Odisha’s expenditure in 2023-24 on six key sectors as a proportion of its total expenditure on all sectors. The average for a sector indicates the average expenditure in that sector by 31 states (including Odisha) as per their budget estimates of 2022-23.

• Education: Odisha has allocated 13.2% of its expenditure towards education in 2023-24. This is lower than the average allocation for education by states in 2022-23 (14.8%).
• Health: Odisha has allocated 7.6% of its total expenditure towards health, which is higher than the average allocation for health by states (6.3%).
• Water Supply and Sanitation: Odisha has allocated 6.2% of its expenditure towards water supply and sanitation. This is more than twice the average allocation towards water supply and sanitation by states (3%).
• Rural Development : Odisha has allocated 7.1% of its budget towards rural development in 2023-24. This is higher than the average allocation by states (5.7%).
• Police: Odisha has allocated 2.1% of its total expenditure towards police, which is almost half of the average expenditure on police by states (4.3%).
• Roads and bridges: Odisha has allocated 7.9% of its total expenditure towards roads and bridges, which is higher than the average allocation by states (4.5%).

Note: 2021-22, 2022-23 (BE), 2022-23 (RE), and 2023-24 (BE) figures are for Odisha. Sources: Annual Financial Statement, Odisha Budget 2023-24; various state budgets; PRS. The 31 states include the Union Territories of Delhi, Jammu and Kashmir, and Puducherry,

Particular	2021-22 BE	2021-22 Actuals	% change from BE to Actuals
Net Receipts (1+2)	1,26,014	1,54,626	23%
1. Revenue Receipts (a+b+c+d)	1,25,600	1,53,059	22%
a. Own Tax Revenue	37,500	40,748	9%
b. Own Non-Tax Revenue	20,000	54,257	171%
c. Share in central taxes	30,137	38,145	27%
d. Grants-in-aid from the Centre	37,963	19,910	-48%
Of which GST compensation grants	9,253	2,466	-73%
2. Non-Debt Capital Receipts	414	1,566	278%
3. Borrowings	40,986	12,780	-69%
Of which GST compensation loan	0	6,430	–
Net Expenditure (4+5+6)	1,46,479	1,33,999	-9%
4. Revenue Expenditure	1,19,567	1,09,588	-8%
5. Capital Outlay	25,788	22,725	-12%
6. Loans and Advances	1,124	1,686	50%
7. Debt Repayment	23,521	19,798	-16%
Revenue Surplus	6,033	43,472	621%
Revenue Surplus (as % of GSDP)	1.0%	6.6%	–
Fiscal Deficit	20,465	-20,627	-201%
Fiscal Balance (as % of GSDP)	3.5%	-3.1%	–

Note: BE: Budget Estimates; (+) sign indicates a surplus and (-) indicates a deficit. Sources: Odisha Budget Documents of various years; PRS. Table 8 : Key Components of State’s Own Tax Revenue (in Rs crore)

Head	2021-22 BE	2021-22 Actuals	% change from BE to Actuals
Taxes on Vehicles	2,100	1,664	-21%
State Excise	5,400	5,528	2%
State GST	15,000	16,392	9%
Land Revenue	600	664	11%
Sales Tax/ VAT	9,000	10,000	11%
Taxes and Duties on Electricity	3,300	3,717	13%
Stamps Duty and Registration Fees	1,800	2,419	34%

Sources: Odisha Budget Documents of various years; PRS. Table 9 : Allocation towards Key Sectors (in Rs crore)

Sector	2021-22 BE	2021-22 Actuals	% change from BE to Actuals
Water Supply and Sanitation	10,686	6,994	-35%
Transport	12,007	9,274	-23%
of which Roads and Bridges	11,267	8,671	-23%
Irrigation and Flood Control	8,300	7,112	-14%
Welfare of SC, ST, OBC, and Minorities	3,391	2,918	-14%
Police	4,141	3,765	-9%
Education, Sports, Arts, and Culture	21,591	19,720	-9%
Agriculture and Allied Activities	10,705	10,080	-6%
Social Welfare and Nutrition	9,709	9,399	-3%
Rural Development	10,850	10,539	-3%
Urban Development	2,209	2,338	6%
Housing	838	911	9%
Health and Family Welfare	9,340	10,433	12%
Energy	1,626	3,473	114%

Sources: Odisha Budget Documents of various years; PRS. DISCLAIMER: This document is being furnished to you for your information. You may choose to reproduce or redistribute this report for non-commercial purposes in part or in full to any other person with due acknowledgement of PRS Legislative Research (“PRS”).

1. The opinions expressed herein are entirely those of the author(s).
2. PRS makes every effort to use reliable and comprehensive information, but PRS does not represent that the contents of the report are accurate or complete.
3. PRS is an independent, not-for-profit group.
4. This document has been prepared without regard to the objectives or opinions of those who may receive it.

: Odisha Budget Analysis 2023-24

What is the sports budget of Odisha?

34% increase in Odisha’s Sports Budget for financial year 2023-24 To boost sports in the state, Odisha government has announced a staggering 34 per cent increase in its sports budget for the fiscal year 2023-24. With a total allocation of Rs 1,217 crore, the sports budget in Odisha is likely to be one of the highest in the country.

This remarkable increase from last year’s budget of Rs 911 crore is a testament to the government’s unwavering support for sports in the state and is a continued realisation of Chief Minister Shri Naveen Patnaik’s vision of “Sports for youth, youth for future”. Odisha has come a long way in terms of its investment in sports.

In 2010, the state’s sports budget was approximately Rs 20 crores. Over the past decade, the government has demonstrated a clear commitment to sports by steadily increasing its budget allocation. The current budget includes Rs 30 crore for training and coaching, Rs 24 crore for Sports Competition, Rs 10 crore for Incentives and Awards, Rs 5 crore for Khelo India, and Rs 3 crore for Financial Assistance to outstanding sports persons for advanced training coaching and participation in sports competitions.

In the coming months, the state is set to host the FIH Men’s Pro League and the National Championship for Hockey at Rourkela, among other events. These events serve as a platform to showcase the state’s capabilities in hosting both international and national events and highlights the government’s vision to promote Sports and position itself as a sports hub in India. Noting that the state government’s focus on sports is not limited to hosting events alone, Odisha’s Sports secretary R Vineel Krishna said the government is also prioritizing the development of sports infrastructure in the state.

It is committed to creating state-of-the-art facilities that can serve as a training ground for budding athletes. While the iconic Kalinga Sports Complex located in Bhubaneshwar is one of the best sports facilities in the country, the Birsa Munda Hockey Stadium in Rourkela has recently been inducted into the Guinness book of world records as the largest fully-seated hockey stadium of the world.

Despite an abundance of pandemic induced challenges, the facility also houses an Olympic-style Hockey Village with 250 rooms, he said. In addition to infrastructure development, the government is also prioritizing training and coaching for athletes. It recognizes the importance of providing quality coaching and training facilities to athletes to enable them to compete at the highest level.

The Kalinga Sports complex is equipped with various High-Performance Centres in Hockey, Sports Science, Swimming, Athletics and others. The state has rapidly become a hub for sports federations and athletes. Ninety multipurpose halls are nearing completion across the state, while regions like Puri, Berhampur, Jeypore, Jharsuguda will also see a surge in sports complexes and training centres.

• The government’s sports budget also includes provisions for various sports welfare schemes for sportspersons.
• The government aims to provide financial assistance to athletes to enable them to compete at the highest level without worrying about the financial burden.
• The government is committed to incentivising younger athletes of the future while also looking after athletes of the past.

Minister of Sports and Youth Services, Tusharkanti Behera said, “We are extremely grateful to the Chief Minister for his unwavering support for sports in Odisha. His vision and commitment have been instrumental in transforming Odisha into a global sports hub.” The government’s focus on sports infrastructure development, training and coaching, and welfare schemes for sportspersons demonstrates its commitment to the growth of sports in the state, he added.

What are the UN themes for 2023?

High-level Political Forum (HLPF) – The High-level Political Forum is the central United Nations platform for the follow-up and review of the 2030 Agenda and the SDGs at the global level. The Forum, to be held from 10 to 19 July 2023 under the theme “Accelerating the recovery from the coronavirus disease and the full implementation of the 2030 Agenda for Sustainable Development at all levels”, will take a deep dive on Goal 6 (clean water and sanitation), Goal 7 (affordable and clean energy), Goal 9 (industry, innovation and infrastructure), Goal 11 (sustainable cities), and Goal 17 (partnerships). Photo:Supavadee/Adobe Stock 24-26 July

What is the UN 2030 plan?

UN Agenda 2030 – Directorate of Programme Co-ordination The was launched by a UN Summit in New York on 25-27 September 2015 and is aimed at ending poverty in all its forms. The UN 2030 Agenda envisages “a world of universal respect for human rights and human dignity, the rule of law, justice, equality and non-discrimination”,

1. It is grounded in the Universal Declaration on Human Rights and international human rights treaties and emphasises the responsibilities of all states to respect, protect and promote human rights.
2. There is a strong emphasis on the empowerment of women and of vulnerable groups such as children, young people, persons with disabilities, older persons, refugees, internally displaced persons and migrants.

The Agenda’s 17 Sustainable Development Goals (SDG), and their 169 targets, aim at eradicating poverty in all forms and “seek to realize the human rights of all and achieve gender equality”. : UN Agenda 2030 – Directorate of Programme Co-ordination

How do you calculate budget?

Your Guide to How to Budget Money MORE LIKE THIS If I have of, say, $3,000 a month, how can I pay for housing, food, insurance, health care, debt repayment and fun without running out of money? That’s a lot to cover with a limited amount, and this is a zero-sum game.

Calculate your monthly income, pick a budgeting method and monitor your progress. Try the rule as a simple budgeting framework. Allow up to 50% of your income for needs. Leave 30% of your income for wants. Commit 20% of your income to savings and debt repayment. Track and through regular check-ins.

Figure out your after-tax income: If you get a regular paycheck, the amount you receive is probably it, but if you have automatic deductions for a 401(k), savings, and health and life insurance, add those back in to give yourself a true picture of your savings and expenditures.

If you have other types of income — perhaps you make money from side gigs — subtract anything that reduces it, such as taxes and business expenses. Choose a budgeting plan: Any budget must cover all of your needs, some of your wants and — this is key — savings for emergencies and the future. examples include the envelope system and the zero-based budget.

Automate your savings: Automate as much as possible so the money you’ve allocated for a specific purpose gets there with minimal effort on your part. An accountability partner or online support group can help, so that you’re held accountable for choices that blow the budget. Frequently asked questions How do you make a budget spreadsheet? Start by determining your take-home (net) income, then take a pulse on your current spending. Finally, apply the 50/30/20 : 50% toward needs, 30% toward wants and 20% toward savings and debt repayment.

How do you keep a budget? The key to keeping a budget is to on a regular basis so you can get an accurate picture of where your money is going and where you’d like it to go instead. Here’s how to get started: 1. Check your account statements.2. Categorize your expenses.3. Keep your tracking consistent.4.

Explore other options.5. Identify room for change. Free can make budgeting easier. How do you figure out a budget? Start with a financial self-assessment. Once you know where you stand and what you hope to accomplish, pick a that works for you. We recommend the 50/30/20 system, which splits your income across three major categories: 50% goes to necessities, 30% to wants and 20% to savings and debt repayment.

• How do you make a budget spreadsheet? Start by determining your take-home (net) income, then take a pulse on your current spending.
• Finally, apply the 50/30/20 : 50% toward needs, 30% toward wants and 20% toward savings and debt repayment.
• How do you keep a budget? The key to keeping a budget is to on a regular basis so you can get an accurate picture of where your money is going and where you’d like it to go instead.

Here’s how to get started: 1. Check your account statements.2. Categorize your expenses.3. Keep your tracking consistent.4. Explore other options.5. Identify room for change. Free can make budgeting easier. How do you figure out a budget? Start with a financial self-assessment.

• Once you know where you stand and what you hope to accomplish, pick a that works for you.
• We recommend the 50/30/20 system, which splits your income across three major categories: 50% goes to necessities, 30% to wants and 20% to savings and debt repayment.
• We recommend the popular 50/30/20 budget to,

In it, you spend roughly 50% of your after-tax dollars on necessities, no more than 30% on wants, and at least 20% on savings and debt repayment. We like the simplicity of this plan. Over the long term, someone who follows these guidelines will have manageable debt, room to indulge occasionally, and savings to pay irregular or unexpected expenses and retire comfortably.

Minimum loan payments. Anything beyond the minimum goes into the savings and debt repayment category. Child care or other expenses you need so you can work.

If your absolute essentials overshoot the 50% mark, you may need to dip into the “wants” portion of your budget for a while. It’s not the end of the world, but you’ll have to adjust your spending. can be difficult. In general, though, needs are essential for you to live and work.

Typical wants include dinners out, gifts, travel and entertainment. It’s not always easy to decide. Are restorative spa visits (including ) a want or a need? How about organic groceries? Decisions vary from person to person. If you’re eager to get out of debt as fast as you can, you may decide your wants can wait until you have some savings or your debts are under control.

But your budget shouldn’t be so austere that you can never buy anything just for fun. Every budget needs wiggle room — maybe you forgot about an expense or one was bigger than you anticipated — and some money to spend as you wish. If there’s no money for fun, you’ll be less likely to stick with your budget.

• Use 20% of your after-tax income to put something away for the unexpected, save for the future and pay off debt.
• Make sure you think of the bigger financial picture; that may mean two-stepping between savings and debt repayment to accomplish your most pressing goals.
• Priority No.1 is a starter emergency fund.

Many experts recommend you try to build up several months of bare-bones living expenses. We suggest you start with an of at least $500 — enough to cover small emergencies and repairs — and build from there. You can’t get out of debt without a way to avoid more debt every time something unexpected happens.

1. And you’ll sleep better knowing you have a financial cushion.
2. Priority No.2 is getting the employer match on your 401(k).
3. Get the easy money first.
4. For most people, that means tax-advantaged accounts such as a 401(k).
5. If your employer offers a match, contribute at least enough to grab the maximum.
6. It’s free money.

Why do we make capturing an employer match a higher priority than debts? Because you won’t get another chance this big at free money, tax breaks and compound interest. Ultimately, you have a better shot at building wealth by getting in the habit of regular long-term savings.

You can’t repay your unsecured debt — credit cards, medical bills, personal loans — within five years, even with drastic spending cuts. Your total unsecured debt equals half or more of your gross income.

Priority No.4 is, again, saving for retirement. Once you’ve knocked off any toxic debt, the next task is to get yourself on track for retirement. Aim to save 15% of your gross income; that includes your company match, if there is one. Priority No.5 is, again, your emergency fund.

1. Regular contributions can help you build up three to six months’ worth of essential living expenses — not your full budget, just the must-pay basics.
2. You shouldn’t expect steady progress because emergencies happen, and that’s when you should pull money from this fund.
3. Just focus on replacing what you use and building higher over time.

Priority No.6 is debt repayment. If you’ve already paid off your most toxic debt, what’s left is probably lower-rate, often tax-deductible debt (such as your mortgage). Tackle these when the more-basic goals listed above are covered. Any wiggle room you have here comes from the money available for wants or from saving on your necessities, not your emergency fund and retirement savings.

1. Congratulations! You’re in a great position — a really great position — if you’ve built an emergency fund, paid off toxic debt and are socking away 15% toward a retirement nest egg.
2. You’ve built a habit of saving that gives you immense financial flexibility.
3. Don’t give up now.
4. Consider saving for irregular expenses that aren’t emergencies, such as a new roof or your next car.

Those expenses will come no matter what, and it’s better to save for them than borrow. » LEARN: Tips for Canadians on About the authors new Follow for more nerdy know-how Keep up with your favorite financial topics on NerdWallet. Bev O’Shea is a freelance writer and a former NerdWallet staff member who specializes in consumer credit, scams and identity theft. Her work has appeared in The New York Times, The Washington Post, MarketWatch and elsewhere. : Your Guide to How to Budget Money

Why budget is important for a country?

The Need for Government Budget – A government budget is the means of providing control over expenditure and revenue by the government. Budgets help in maintaining stability and control over the government’s finances and are also a means of providing accountability through financial reporting. The following points can help you understand the importance of the Government Budget:

Resource Reallocation: With the social and economic condition of the country in mind, the government can distribute resources properly. Reduce the Difference in Income and Wealth: The economic equality of different classes in the country can be better maintained by the government. They can impose taxes on the elite class and spend that money on the welfare of poor people. Improvement in Economic Growth: The overall rate of investment and savings can be raised by focusing on providing adequate resources to the public sectors. The rate of investment and savings determine a country’s economic growth. Reduce Differences in Regional Development: Region inequalities can be reduced by installing production units in underdeveloped areas.

The Importance of Government Budget Every country aims to improve the standard of living of its people and eradicate issues like poverty, illiteracy, unemployment, income inequality, etc. Budget measures help the government in meeting these goals. A budget gives an overview of the fiscal policy of the government.

What is the definition of a budget?

A budget is an approximation of revenue and expenses over a specified future period of time and is used by governments, businesses, and individuals. A budget is basically a financial plan for a defined period, normally a year. It greatly improves the success of any undertaking.

What is the GDP of Kerala over the years?

90,692,093 (INR, lakhs) in 2021 In 2021, GDP for Kerala was 90.7 million INR, lakhs. GDP of Kerala increased from 41.2 million INR, lakhs in 2012 to 90.7 million INR, lakhs in 2021 growing at an average annual rate of 9.34%. The description is composed by our digital data assistant. What is GDP? A lakh is a unit in the Indian numbering system equal to one hundred thousand (100,000)

In which year 40 of the entire state budget of Kerala was given to panchayat?

Solution: – In Kerala, 40 % of the entire budget is given to Panchayats. In 1996, Kerala Government made a new rule of giving 40% of the total to panchayats. Panchayat is a governing body in rural areas of India. It implements new rules and regulations for rural people and solves problems in case of disputes.

What is the child budget in Kerala?

In contrast with the usual practice, finance minister K N Balagopal in his speech failed to mention gender budgeting, a flagship of the government to push its support for women and children welfare. However, he has set aside about 21.12% of the total allotted planned funds for women and children.

The Gender Budget 2023-24 has an allocation of Rs 4,670.22 crore within a total plan outlay of Rs 22,112 crore. Within this, Part A (that covers 90-100% women-specific schemes) has an allocation of Rs 1,479.53 crore (6.69%) and Part B (includes all schemes wherein the allocation of budgetary resources is anything less than 90%) has an allocation of Rs 3,190.69 crore (14.43%).

The Child Budget 2023-24 will be Rs 1,647.53 crore, which constitutes 7.45% of the total allocation (excluding allocations under local self government institutions). Psychosocial service for adolescent girls is an important ongoing scheme of the women and child department.