Monitorable Targets For 11 - Punjab State Planning Board

in the year 2008-09 is estimated at Rs. 33198 and for the year 2009-10 is expected to be
Rs.34935 at constant prices.
STATE FINANCES
11. The State enacted the Fiscal Responsibility and Budget Management Act in the
year 2003. As per the norms of GoI, the State is required to eliminate revenue deficit and bring
down the fiscal deficit to 3.5% of GSDP by 2009-10. The Government of India as per
recommendation of 12 th Finance Commission had formulated States’ Debt Consolidation and
Relief Facility (DCRF) for the period 2005-06 to 2009-10. Under this scheme, the State
received debt waiver of Rs 64 crore in 2005-06, Rs 130 crore in 2006-07, Rs 86 crore in 2007-
08 and Rs 153 crore in 2008-09 from the Government of India. Some of the important financial
indicators and targets are given below: -
I - Revenue & Fiscal Deficit
Revenue Deficit Fiscal Deficit
Target
Achievement Achievement
(Rs crore)
(Rs crore) as % of GSDP
Target
(Rs crore)
Target
as % of
GSDP
Achievement Achievement
(Rs crore) as %
of GSDP
2004-05 (-)3391 -3.51 - - (-) 4115 -4.26
2005-06 -2135 (-) 1240 -1.14 -3684 -3.76 (-) 2654 -2.44
2006-07 -1896 (-)1749* -1.44 -4049 -3.72 (-) 4384* -3.62
2007-08 -725 (-)3823 -2.65 -3663 -3.03 (-)4604 -3.19
2008-09
2009-10
+2.00 (-)3856 -2.33 -3920 -2.92 (-)6690 -4.03
Pre-
Actual
-1744 (-)5532 -2.88 -3106 -2.09 (-)6450 -3.35
II – Debt Stock III - Committed Expenditure
Year
Debt (in Rs
Crore)
Debt as
% of GSDP
6
Debt as
% of Rev.
Receipt
Year
Committed
expenditure
as % of
Revenue Receipt
2004-05 44982 46.54 325.78 2004-05 75.73
2005-06 48838 44.95 287.85 2005-06 63.69
2006-07 48344* 39.89 287.85 2006-07 70.50
2007-08 52923 36.67 275.10 2007-08 69.64
2008-09 57787 34.85 278.99 2008-09 70.32
2009-10
Pre-Actual
64924 33.75 293.02
2009-10
Pre-Actual
80.09
2010-11
(BE)
71086 32.85 240.01
2010-11
(BE)
63.07
* Without taking into account Special Term Loan of Rs 3772 crore waived off by Government of
India.