The Union Budget 2013-13 estimates a nominal GDP growth of 12.8%. The fiscal deficit is placed at 4.8% of GDP. Total revenue is expected to grow by 21.2% with tax revenue growth pegged at 19.1% and non tax revenue growth placed at 32.8%. Non plan expenditure and plan expenditure is budgeted to grow by 10.8% and 29.4% respectively. Total expenditure is expected to grow by 16.4%.
The government has to meet its revenue and expenditure goals to achieve a fiscal deficit of 4.8% of GDP. Hence it is important to monitor the performance of the government on an on going basis to check if budgeted targets are on track.
The performance monitor of budget 2013-14 will help you track the government’s performance and deviations from the goals will help you recalibrate your investment portfolio.
Table 1, Table2 and Table 3 gives the Fiscal Deficit estimates, budgeted revenue and budgeted expenditure for 2013-14.
Table 1. Fiscal Deficit Estimates for 2013-14
Gross borrowing is net borrowing plus bond redemptions of Rs 95,000 crores and Rs 50,000 crores for buying back illiquid bonds from the market.
Table 2. Budgeted revenue for 2013-14
Table 3. Budgeted expenditure for 2013-14