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> Policies> economic survey 2000-01
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Economic Survey 2000-2001
[Review of Developments]
Fiscal developments
Fiscal and budgetary developments in 2000-2001
1.51 The fiscal parameters for the nine months of the current fiscal year (April-December 2000) reveals a decline in gross fiscal deficit from Rs. 67082 crore in April-December 1999 to Rs. 64628 crore in April-December 2000 due to better revenue receipts and lower growth in expenditure in the current year. Revenue receipts (net to Centre) increased by 15.3 per cent; other receipts (mainly disinvestment receipts) were only a miniscule Rs.236 crore against a budgeted target of Rs.10000 crore. Total expenditure at Rs. 204821 crore had an increase of only 7.7 per cent over the same period of last year. Borrowings and other liabilities at Rs. 64628 crore indicates a decline of 3.7 per cent over last year.
1.52 The data available for gross collections from major direct and indirect taxes for the first nine months (April-December, 2000) of the current year show strong recovery in direct tax collections. Collections from personal income tax and corporation tax increased by 30.5 per cent in April-December 2000 compared with an increase by 15.3 per cent in April-December 1999. Collections from excise and custom duties posted a growth of 7.1 per cent compared with an increase of 19 per cent in April-December 1999.
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