Union Budget

Total Receipts
Capital Expenditure
Fiscal Deficit

The Union Budget, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for a fiscal year. It keeps the account of the government's finances for the fiscal year that runs from 1st April to 31st March. The union budget is typically presented on the first day of February each year and has to be passed by Lok Sabha before it can come into effect on 1st April.

The Union Budget consists of a revenue budget and an expenditure budget. The revenue budget details the money received by the government from tax and non-tax sources to enable it to undertake government expenditures. The expenditure budget details the expenditure expected to be incurred in the fiscal year for developmental and non-developmental purposes.

The Union Budget, also referred to as the annual financial statement, is a statement of the estimated receipts and expenditure of the government for a fiscal year. It keeps the account of the government's finances for the fiscal year that runs from 1st April to 31st March. The union budget is typically presented on the first day of February each year and has to be passed by Lok Sabha before it can come into effect on 1st April.

The Union Budget consists of a revenue budget and an expenditure budget. The revenue budget details the money received by the government from tax and non-tax sources to enable it to undertake government expenditures. The expenditure budget details the expenditure expected to be incurred in the fiscal year for developmental and non-developmental purposes.

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SUBJECT Variables
It comprises of the money received by a government from taxes and non-tax sources to enable it to undertake government expenditures and is an important tool of the government's fiscal policy.
Union Budget | India | 2013 - 2022 | Data, Charts and Analysis
Data and expert analysis on the Union Budget of India - sector-wise receipts and expenditure, subsidies, debts and liabilities, and fiscal deficits.
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01/04/2013 To 31/03/2023
Total Receipts
Capital Expenditure
Fiscal Deficit
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Total Receipts
Capital Expenditure
Fiscal Deficit
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RECEIPTS

This is the money received by the government from tax and non-tax sources to enable it to undertake government expenditures.

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Receipts (excl Borrowings)
Total Receipts (incl Borrowings)

Receipts (excluding borrowings)

  • The receipts (excl borrowings) in 2022-23 are budgeted at ₹22.84 lakh crore, 4.8% higher than the actual receipts estimated in 2021-22.
  • The receipts (excl borrowings) in 2021-22 are estimated to be higher than budgeted by ₹2.02 crore (10.2% of the budget). The shortfall of Rs. 0.97 lakh crore in 2021-22 due to the missed disinvestment target was more than made up by a higher than budgeted collection of Rs. 2.99 lakh

Total receipts (including borrowings)

  • The total receipts (incl borrowings) in 2022-23 are budgeted at ₹39.44 lakh crore, 4.6% higher than the actual receipts estimated in 2021-22.
  • The total receipts (incl borrowings) in 2021-22 are estimated to be higher than budgeted by ₹2.87 lakh crore (8.2% of the budget)
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Net Revenue Receipts

Revenue Receipts are those sources of revenue that are recurring in nature. They do not create any liability nor cause any reduction in the assets of the government. These include tax and non-tax revenue streams comprising proceeds from taxes levied, fees and charges levied for providing various services, and interest and dividend received on investments.

The central government's net revenue receipts (excluding the share of states) for 2022-23 are budgeted at ₹22.04 lakh crore, 6% higher than the actual revenue receipts estimated in 2021-22. Revenue receipts comprise 56% of the total receipts budgeted in 2022-23.

Tax Revenue (Net to Centre)

  • The net tax revenue to Centre is budgeted at ₹19.35 lakh crore in 2022-23, 9.6% higher than the actual collections estimated in 2021-22.
  • Net tax revenue is expected to contribute 84.7% of the government's receipts (excl borrowings) budgeted in 2022-23, in comparison to 81% actual tax receipts estimated in 2021-22.
  • The actual net tax revenue in 2021-22 is expected to exceed its budget by ₹2.20 lakh crore (14.2% of the budgeted amount).

Non-Tax Revenue

  • Revenue from non-tax sources (interests, dividends and profits) in 2022-23 is budgeted at ₹2.7 lakh crore, 14.1% lower than the actual non-tax revenue estimated in 2021-22.
  • The actual non-tax revenue in 2021-22 is expected to exceed its budget by ₹70,763 crore (29% of the budgeted amount).
  • Non-Tax revenue is expected to contribute 11.8% of the government's receipts (excl borrowings) budgeted in 2022-23, in comparison to 14.4% estimated in 2021-22.
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Capital Receipts

Capital receipts are those that create liabilities and are non-recurring in nature. These include proceeds from sale of government assets, loans taken from the public and financial institutions, and recoveries of loans and advances.

The central government's total capital receipts for 2022-23 are budgeted at ₹17.4 lakh crore, 2.9% higher than the actual capital receipts estimated in 2021-22. Capital receipts comprise 44% of the total receipts budgeted in 2022-23.

Borrowings

  • Borrowings to cover the revenue shortfall are budgeted at ₹16.61 lakh crore in 2022-23, 4.4% higher than the actual borrowings estimated in 2021-22.
  • The actual borrowings in 2021-22 are estimated to exceed its budget by ₹84,277 crore (5.6% of the budgeted amount)

Disinvestment

  • Revenue from disinvestment (sale of government's stake in public companies) is budgeted at ₹65,000 crore in 2022-23, 16.7% lower than the actual disinvestment receipts estimated in 2021-22.
  • The actual revenue from disinvestments in 2021-22 is estimated to fall short of its budget by ₹97,000 crore as the government is expected to sell only 45% of the targeted assets. 
  • Revenue from disinvestment is estimated to contribute only 2.8% of the government's receipts (excl borrowings) in 2022-23, in comparison to 3.6% based on actual disinvestment receipts estimated in 2021-22.
  • Disinvestment targets have been met only twice since 2013. In absolute terms, the government's disinvestments between 2013 and 2021 have fallen short of its budget by ₹3.7 lakh crore (42% of the total budgeted amount).

Loan Recoveries

  • Recoveries of loans and advances are budgeted at ₹14,291 crore in 2022-23. The actual receipts from recoveries of loans and advances in 2021-22 are expected to exceed its budget by ₹8,975 crore (69% of the budgeted amount).
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Related Indicators

Tax Revenues

Current Account

Final Consumption Expenditure

Foreign Investment Inflows

Forex Reserves

External Debt

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