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Tax Revenue and Expenditure

  1990-91 Actuals 1994-95 Actuals 1995-96 Actuals 1996-97 Actuals 1997-98 Revised Estimates 1998-99 Revised Estimates
1. Fiscal Deficit 7.7 5.6 4.9 4.7 5.5 5.1
2. Revenue Deficit 3.2 3.0 2.4 2.3 2.8 2.7
3. Primary Deficit 4.0 1.3 0.8 0.5 1.3 0.9
4. Gross Tax Revenue 9.9 8.9 9.1 9.1 9.1 8.9
(a) Direct Tax 1.9 2.6 2.8 2.8 3.3 2.8
(i) Income Tax 0.9 1.2 1.3 1.3 1.2 1.2
(ii) Corporation Tax 0.9 1.3 1.4 1.3 1.4 1.5
(b) Indirect Tax 7.8 6.3 6.4 6.4 5.8 6.1
(i) Union Excise Duties 4.2 3.6 3.3 3.2 3.1 3.3
(ii) Customs 3.5 2.6 2.9 3.0 2.6 2.7
5. Total Expenditure of which 18.1 15.5 14.6 14.3 15.0 15.1
(i) Interest Payments 3.7 4.2 4.1 4.2 4.2 4.2
(ii) Major Subsidies 1.6 1.1 1.0 1.0 1.2 1.1
(iii) Defence 2.6 2.2 2.2 2.1 2.3 2.3
(iv) Other Non-Plan Expenditure 5.2 3.3 3.5 3.2 3.5 3.4
(v) Budget Support For Plan 4.9 4.6 3.8 3.8 3.9 4.1
Note :
The ratios to GDP are based on new series of National Account Statistics with 1993-94 as base year released by the Central Statistical Organisation (CSO) on February 3, 1999. For the purpose of comparability GDP at current market prices for the year 1990-91, 1991-92 and 1992-93 have been interpolated by using an average link sector of 1.0878 obtained from the overlapping years viz. 1993-94, 1994-95, 1995-96 and 1996-97 for which both the old series and new series for the GDP at current market prices are available.
The estimate of GDP at current market prices for 1998-99 is based on CSO’s advance estimates    of real GDP growth of 5.8 per cent along with an assumption of an average inflation rate of 7 per cent for the year.

 

Table 1.6

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