Key Budget Highlights
- Gross State Domestic Product (GSDP) 2024-25:
- Projected at ₹17,81,078 crore, reflecting a 17% growth over the previous year’s GSDP.
- Total Expenditure:
- Estimated at ₹3,34,796 crore (excluding debt repayment), a 10% increase over revised estimates for 2023-24.
- Debt Repayment:
- ₹1,60,671 crore.
- Revenue Receipts (excluding borrowings):
- Estimated at ₹2,64,787 crore, an 11% increase over revised estimates for 2023-24.
- Revenue Deficit:
- Estimated to be 1.4% of GSDP (₹25,758 crore), down from 2% in 2023-24.
- Fiscal Deficit:
- Targeted at 3.9% of GSDP (₹70,009 crore) for 2024-25, slightly lower than the 4.3% in 2023-24.
Major Policy Announcements
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Rajasthan Regional and Urban Planning Bill (2024):
- Introduced to promote planned development in cities and peri-urban areas.
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Road Infrastructure:
- 53,000 km of roads will be developed at an estimated cost of ₹60,000 crore over five years.
- ₹9,000 crore allocated for state highways, flyovers, and bypass roads.
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Rajasthan Irrigation Water Grid Mission:
- ₹50,000 crore allocated over five years for irrigation development in all districts.
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Energy:
- The state plans to expand electricity generation capacity to 20,500 MW from conventional sources and 33,600 MW from renewable sources by 2031-32.
- In 2024-25, 25 lakh smart meters will be installed.
Economic Overview
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GSDP Growth (2023-24):
- Grew at 8% (national GDP growth: 8.2%).
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Sectoral Growth (2023-24):
- Agriculture: 2.1% growth.
- Manufacturing: 12.4% growth (up from 6.3% in 2022-23).
- Services: 6.4% growth.
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Sectoral Contributions (2023-24):
- Agriculture: 27% of the GSDP.
- Manufacturing: 28%.
- Services: 45%.
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Per Capita Income:
- Rajasthan’s per capita income in 2023-24 was ₹1,67,964, lower than the national average of ₹1,84,205.
Budgetary Estimates for 2024-25
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Revenue Expenditure:
- ₹2,90,219 crore, an 8% increase over the revised estimates for 2023-24. This includes salaries, pensions, interest payments, grants, and subsidies.
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Capital Outlay:
- ₹44,216 crore, a 27% increase over the revised 2023-24 estimates. It reflects spending on asset creation.
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Loans and Advances:
- ₹360 crore, a 28% decrease from 2023-24.
Key Allocations for Major Sectors (2024-25)
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Education, Sports, Arts, and Culture:
- ₹65,073 crore allocated (9% increase).
- Samagra Shiksha Abhiyan: ₹17,854 crore.
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Energy:
- ₹30,729 crore allocated for the energy sector, with ₹27,897 crore for grants and subsidies to DISCOMS.
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Health and Family Welfare:
- ₹27,660 crore (15% increase).
- ₹8,888 crore allocated for allopathy health services.
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Social Welfare and Nutrition:
- ₹24,060 crore (18% increase).
- CM Vriddhajan Samman Pension Yojana: ₹8,625 crore.
- CM Vidhwa Samman Yojana: ₹3,450 crore.
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Rural Development:
- ₹20,494 crore, including ₹5,174 crore for MGNREGA.
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Urban Development:
- ₹16,918 crore (32% increase).
- ₹5,548 crore for grants to Nagar Palika and Nagar Parishads.
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Agriculture and Allied Activities:
- ₹14,544 crore.
- Fasal Bima Yojana: ₹2,000 crore.
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Transport:
- ₹13,436 crore, with ₹9,376 crore allocated for roads and bridges.
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Water Supply and Sanitation:
- ₹11,270 crore, including ₹6,074 crore for capital outlay on water supply and sanitation.
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Irrigation and Flood Control:
- ₹10,044 crore, with ₹7,173 crore allocated for capital outlay.
Revenue Sources for 2024-25
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State’s Own Tax Revenue:
- ₹1,25,525 crore, a 13% increase over 2023-24.
- State GST: ₹55,800 crore (16% growth).
- Sales Tax/VAT: ₹29,000 crore (12% growth).
- State Excise: ₹17,100 crore (10% growth).
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State’s Share in Central Taxes:
- ₹79,587 crore (20% increase).
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Grants from Centre:
- ₹36,684 crore (8% decrease).
Fiscal Management
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Revenue Deficit:
- ₹25,758 crore, or 1.4% of GSDP.
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Fiscal Deficit:
- ₹70,009 crore, or 3.9% of GSDP.
- If interest-free loans provided by the central government are excluded, the deficit drops to 3.5%.
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Outstanding Liabilities:
- Estimated to be 36% of GSDP in 2024-25, lower than the 37.3% in 2023-24.
