Rajasthan Budget 2022-23 Analysis:-
The Chief Minister of Rajasthan, Mr. Ashok Gehlot, presented the Rajasthan Budget for the state for the financial year 2022-23 on February 23, 2022.
Rajasthan Budget 2022-23 Highlights
- The Gross State Domestic Product (GSDP) of Rajasthan for 2022-23 (at current prices) is projected to be Rs 13,34,410 crore. This is a growth of 11.6% over the revised estimate of GSDP for 2021-22 (Rs 11,96,137 crore)
- Expenditure (excluding debt repayment) in 2022-23 is estimated to be Rs 2,73,468 crore, an 8% increase over the revised estimates of 2021-22. In addition, debt of Rs 72,715 crore will be repaid by the state
- Receipts (excluding borrowings) for 2022-23 are estimated to be Rs 2,15,256 crore, an increase of 12% as compared to the revised estimate of 2021-22. In 2021-22, receipts (excluding borrowings) are estimated to exceed the budget estimate by Rs 6,805 crore.
- Revenue deficit for 2022-23 is estimated to be Rs 23,489 crore, which is 1.7% of the GSDP. In 2021-22, revenue deficit is estimated to be 2.9% of GSDP as against the budget estimate of 1.9% of GSDP.
- Fiscal deficit for 2022-23 is targeted at Rs 58,212 crore (4.4% of GSDP). In 2021-22, as per the revised estimates, fiscal deficit is expected to be 5.1% of GSDP, higher than the budget estimate of 3.9% of GSDP.
Rajasthan’s Economy according to Rajasthan Budget
- GSDP: For 2021-22, Rajasthan’s GSDP (at constant prices) is estimated to grow by 11%. In 2020-21, the GSDP contracted by 2.9% in comparison to 2019-20. India’s GDP is estimated to grow by 8.9% in 2021-22.
- Sectors: In 2021-22, agriculture, manufacturing, and services sectors contributed 27%, 24%, and 41% to the state’s economy respectively. In 2020-21, the manufacturing and services sectors contracted by 6% each,
- Per capita GSDP: The per capita GSDP of Rajasthan in 2020-21 (at current prices) was Rs 1,29,460, which is marginally higher than the corresponding figure in 2019-20. In 2020-21, per capita GDP at the national level was Rs 1,46,087 (at current prices).
Source: prsindia.org