BUDGET estimates

Revised Estimates for 2000-2001

94. We have been able to adhere to the Budget target of fiscal deficit despite pressures on public finances on account of deceleration in disinvestment programme, natural calamities and the relief to consumers of petroleum products. The revised estimates for the current fiscal year show a marginal decrease in expenditure of Rs 2,965 crore as compared to the Budget estimates.

95. Net tax revenues for the Centre are estimated to be Rs 1,44,403 crore compared to the Budget estimates of Rs 1,46,209 crore, thereby reflecting a shortfall of Rs 1806 crore. The shortfall is mainly due to lower collection of Customs and Union Excise duties which were reduced to provide relief to POL consumers. Non tax revenue is estimated at Rs 61,763 crore, Rs 4299 crore more than the estimated level of Rs 57,464 crore. However, disinvestment receipts are expected to be lower at Rs 2500 crore against the Budget target of Rs 10,000 crore.

96. The fiscal deficit as a percentage of the GDP is expected to be on target at 5.1 per cent.

Budget Estimates for 2001-2002

97. In the budget estimates for 2001-2002, the total expenditure is estimated at Rs 3,75,223 crore, of which Rs 100,100 crore is for plan and Rs 275,123 crore for non-plan.

Plan Expenditure

98. The budget support for Central, State and UT Plans has been placed at Rs 100,100 crore, an increase of Rs 13,862 crore over revised estimates 2000-2001. This amounts to an increase of 16 per cent. Gross budgetary support for the Central Plan is being enhanced from Rs 48,269 crore in the revised estimates 2000-2001 to Rs 59,456 crore in 2001-2002. Central Plan assistance to States and Union Territories in 2001-2002 is also proposed to be increased to Rs 40,644 crore from Rs 37,969 crore in the revised estimates 2000-2001.

Non Plan Expenditure

99. Non-plan expenditure in 2001-2002 is estimated to be Rs 2,75,123 crore compared to Rs 2,49,284 crore in Revised estimates for 2000-2001. The increase in non-plan expenditure is mainly in interest payments (Rs 11,633 crores), defence (Rs 7,539 crore) and Grants to State Governments (Rs 2,221 crore).

100. In order to practice greater accountability and transparency, I am attaching with the budget papers this year a new report on "Implementation of Budget Announcements, 1999-2000 and 2000-01".