Union Budget 1999-2000 Govt. of India Ministry of Finance

Budget Speech


Yashwant Sinha

Speech of Shri Yashwant Sinha
Finance Minister, Government of India
27th February, 1999

but.gif (597 bytes) Revenue Receipts

57. Before I proceed to detail my tax proposals, I would like to highlight the position of fiscal deficit in 1999-2000, if the existing rates of taxes and tariffs are continued. Gross tax revenues would then be Rs.1,67,526 crore and the Centre’s net tax revenue would be Rs.1,22,730 crore. Non-tax revenues are estimated to increase from Rs.48,128 crore in revised estimates 1998-99 to Rs.50,475 crore this year. The net revenue receipts for the Centre, including non-tax receipts, would increase from Rs.1,57,664 crore in revised estimates 1998-99 to Rs.1,73,205 crore in 1999-2000. After taking into account receipts of Rs.10,000 crore from disinvestment of equity in public sector enterprises, the fiscal deficit would be Rs.89,713 crore. This is unacceptably high. I shall now come to my proposals to reduce the deficit.






This page is prepared and maintained by
National Informatics Centre
Ministry of Finance, Government of India