Fiscal consolidation
28 Feb 2006
1
Twelfth Finance Commission
- Rs94,402 crore to be released as states' share in gross tax revenues, compared to Rs78,595 crore in 2004-05.
- Grants- in-aid to states at Rs25,134 crore in revised estimates (RE) 2005-06 against Rs12,081 crore in 2004-05.
Subsidies
- Consensus sought on the issue of subsidies.
Gross budgetary support and gross fiscal deficit
- Centre's gross tax-GDP ratio: 9.2 per cent in 2003-04, 9.8 per cent in 2004-05, 10.5 per cent in 2005-06 (RE), 11.2 per cent in 2006-07 (BE).
- Gross fiscal deficit less than gross budgetary support for plan in 2004-05.
- Revenue deficit for 2005-06 to be 2.6 per cent and fiscal deficit 4.1 per cent.
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