Deficit of the Indian Government from 2000-01 to 2015-16

The expenditure of the Government of India is usually more than its receipts on various accounts. Therefore, there are deficits in the budget of the Government of India. Deficits in the budget are of three types namely Revenue Deficit, Fiscal Deficit and Primary Deficit. Revenue Deficit is the excess of revenue expenditure over revenue receipts. Fiscal Deficit is the excess of total expenditure over total receipts excluding borrowings; or in other words, Fiscal Deficit = total expenditure – (revenue receipts + non-debt capital receipts). Primary Deficit is simply Fiscal Deficit minus interest payments.

The Revenue Deficit of the Government of India was Rs. 85233 crores during the year 2000-01. It increased to Rs. 394472 crores during the year 2015-16 (BE) showing an increase of Rs. 309239 crores during the period from 2000-01 to 2015-16. In percentage terms, the overall growth was 362.82% during the period. The annual rate of growth in percentage terms was 24.19% during the period from 2000-01 to 2015-16.

The Fiscal Deficit of the Government of India was Rs. 118816 crores during the year 2000-01. It increased to Rs. 555649 crores during the year 2015-16 (BE) showing an increase of Rs. 436833 crores during the period from 2000-01 to 2015-16. In percentage terms, the overall growth was 367.66% during the period. The annual rate of growth in percentage terms was 24.51% during the period from 2000-01 to 2015-16.

The Primary Deficit of the Government of India was Rs. 19502 crores during the year 2000-01. It increased to Rs. 99504 crores during the year 2015-16 (BE) showing an increase of Rs. 80002 crores during the period from 2000-01 to 2015-16. In percentage terms, the overall growth was 410.22% during the period. The annual rate of growth in percentage terms was 27.35% during the period from 2000-01 to 2015-16.

Note: Data Values are in Rs. Ten Million. BE : Budget Estimates. RE : Revised Estimates. Capital Expenditure does not include Expenditure in respect of Market Stabilization Scheme. Borrowings and other liabilities includes due drawn of cash balance. 1. Direct taxes also include taxes pertaining to expenditure, interest, wealth, gift and estate duty. 2. Major Subsidies excluding grants to NAFED for MIS/PPS. 3. The figures may not add up to the total because of rounding approximations. 4. GDP for BE 2015-16 has been projected at Rs. 14108945 Crore assuming 11.5% growth over the Advance Estimates of 2014-15 (Rs.12653762 crore) release by CSO. Source: Budget documents, Ministry of Finance and also published in statistical year book 2016 by MOSPI.