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Introduction
Economic Situation
Key Objectives
Agriculture
Housing
Infrastructure
Small Scale Industry
Science & Technology
Banking
External Sector
Capital Market
Expenditure Management
PSU Reform
Revised Estimates
Budget Estimates
Indirect Taxes
Custom Duties
Direct Taxes - A
Direct Taxes - B
Closing StatementBudget 1998-99
Budget 1997-98
Budget 1996-97
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Revised Estimates for 1998-99
 | The non-Plan expenditure has increased by Rs.17,616 crore. There is a
shortfall of Rs.3,631 crore under Plan. The normal non-Plan expenditure of the Government
departments has increased only by Rs.2,539 crore. The other increases are on account of
loans to States and UTs against net Small Savings collections, Rs.9,588 crore, pension,
Rs.2,711 crore, interest payments, Rs.2,248 crore, and postal deficit, Rs.530 crore. |
| Net tax revenues for the Centre are estimated at Rs.1,09,537 crore
against Rs.1,16,857 crore budgeted, reflecting a shortfall of Rs.7,320 crore. The
shortfall is mainly due to lower customs revenue on account of both lower volume and
unit-price of imports and lower excise revenue resulting from low industrial growth.
Disinvestment receipts are expected to be Rs.8,000 crore against Rs.5,000 crore budgeted. |
| The fiscal deficit is thus likely to increase to 6.5% of GDP from the
budget target of 5.6% on the basis of comparable GDP estimates. However, if the increase
over budget in small savings loans to States and Union Territories is excluded, the
adjusted fiscal deficit would be 5.9%. |
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