http://www.arthapedia.in/index.php?title=Revenue_Deficit&feed=atom&action=historyRevenue Deficit - Revision history2024-03-29T01:29:52ZRevision history for this page on the arthapediaMediaWiki 1.17.0http://www.arthapedia.in/index.php?title=Revenue_Deficit&diff=2034&oldid=prevArthapedia: /* Contributed by */2015-04-09T09:48:29Z<p><span class="autocomment">Contributed by</span></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Contributed by==</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Contributed by==</div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>* [http://www.ies.gov.in/myaccount-profile-view.php?memid=404 V. Srikanth, IES(2008)]</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>* [http://www.ies.gov.in/myaccount-profile-view.php?memid=404 V. Srikanth, IES(2008)]</div></td></tr>
<tr><td colspan="2"> </td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><ins style="color: red; font-weight: bold; text-decoration: none;">*Email- [mailto:v.srikanth@nic.in v.srikanth@nic.in]</ins></div></td></tr>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>[[Category:concepts|RevenueDeficit]]</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>[[Category:concepts|RevenueDeficit]]</div></td></tr>
</table>Arthapediahttp://www.arthapedia.in/index.php?title=Revenue_Deficit&diff=1589&oldid=prevRosemary.a at 13:34, 19 December 20142014-12-19T13:34:44Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>grants may be used for creation of assets, all grants given by the Union  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>grants may be used for creation of assets, all grants given by the Union  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Government to State Governments/Union Territories and other entities are also  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Government to State Governments/Union Territories and other entities are also  </div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>treated as revenue expenditure. In the <del class="diffchange diffchange-inline">current </del>Union Budget (2011-12) a new  </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>treated as revenue expenditure. In the Union Budget (2011-12) a new  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>methodology of capturing the ‘effective revenue deficit’ has been worked out,  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>methodology of capturing the ‘effective revenue deficit’ has been worked out,  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>which takes into account those expenditures (transfers) in the form of grants  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>which takes into account those expenditures (transfers) in the form of grants  </div></td></tr>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>the Union and at the State-levels, as a revenue deficit may pre-empt resources  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>the Union and at the State-levels, as a revenue deficit may pre-empt resources  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>which otherwise would be available for capital investments. Implementation of  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>which otherwise would be available for capital investments. Implementation of  </div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>Fiscal Responsibility and Budget Management (FRBM) legislation during the period  </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><ins class="diffchange diffchange-inline">[http://www.arthapedia.in/index.php?title=Fiscal_Responsibility_and_Budget_Management_(FRBM)_Act </ins>Fiscal Responsibility and Budget Management (FRBM)<ins class="diffchange diffchange-inline">] </ins>legislation during the period  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>2005-10 has helped Governments to reduce their revenue deficits to a  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>2005-10 has helped Governments to reduce their revenue deficits to a  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>considerable extent. The global slowdown in 2008-09 and 2009-10, however,  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>considerable extent. The global slowdown in 2008-09 and 2009-10, however,  </div></td></tr>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>by 2013-14 and for State Governments in stages, and in a manner that all States  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>by 2013-14 and for State Governments in stages, and in a manner that all States  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>would eliminate these targets latest by 2014-15. The revenue deficit target set  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>would eliminate these targets latest by 2014-15. The revenue deficit target set  </div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>by the Thirteenth Finance Commission for the Union Government for the current  </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>by the Thirteenth <ins class="diffchange diffchange-inline">[http://www.arthapedia.in/index.php?title=Finance_commission </ins>Finance Commission<ins class="diffchange diffchange-inline">] </ins>for the Union Government for the current  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>fiscal year, viz 2011-12, is 2.3% of GDP. As against this, the Medium Term  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>fiscal year, viz 2011-12, is 2.3% of GDP. As against this, the Medium Term  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Fiscal Plan of the Union Government has placed this figure at 3.4%.</p></div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>Fiscal Plan of the Union Government has placed this figure at 3.4%.</p></div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div><p>Fiscal deficit is the difference between revenue receipts plus non-debt  </div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div><p><ins class="diffchange diffchange-inline">'''</ins>Fiscal deficit<ins class="diffchange diffchange-inline">''' </ins>is the difference between revenue receipts plus non-debt  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>capital receipts on the one side and total expenditure including loans, net of  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>capital receipts on the one side and total expenditure including loans, net of  </div></td></tr>
<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>repayments, on the other. It measures the gap between the government consumption  </div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>repayments, on the other. It measures the gap between the government consumption  </div></td></tr>
</table>Rosemary.ahttp://www.arthapedia.in/index.php?title=Revenue_Deficit&diff=898&oldid=prevArthapedia at 12:21, 3 October 20112011-10-03T12:21:01Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>* [http://www.ies.gov.in/myaccount-profile-view.php?memid=404 V. Srikanth, IES(2008)]</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>* [http://www.ies.gov.in/myaccount-profile-view.php?memid=404 V. Srikanth, IES(2008)]</div></td></tr>
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</table>Arthapediahttp://www.arthapedia.in/index.php?title=Revenue_Deficit&diff=481&oldid=prevArthapedia at 08:11, 30 August 20112011-08-30T08:11:16Z<p></p>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Contributed by==</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>==Contributed by==</div></td></tr>
<tr><td class='diff-marker'>−</td><td style="background: #ffa; color:black; font-size: smaller;"><div>* [http://www.ies.gov.in/myaccount-profile-view.php?memid=404 Srikanth <del class="diffchange diffchange-inline">Ambi</del>, IES(2008)]</div></td><td class='diff-marker'>+</td><td style="background: #cfc; color:black; font-size: smaller;"><div>* [http://www.ies.gov.in/myaccount-profile-view.php?memid=404 <ins class="diffchange diffchange-inline">V. </ins>Srikanth, IES(2008)]</div></td></tr>
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<tr><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>[[Category:concepts|R]]</div></td><td class='diff-marker'> </td><td style="background: #eee; color:black; font-size: smaller;"><div>[[Category:concepts|R]]</div></td></tr>
</table>Arthapediahttp://www.arthapedia.in/index.php?title=Revenue_Deficit&diff=267&oldid=prevV.srikanth: Created page with "<p>Revenue deficit is the gap between the consumption expenditure (revenue expenditure) of the Government (Union or the State Governments) and its current revenues (revenue rec..."2011-08-21T00:34:25Z<p>Created page with "<p>Revenue deficit is the gap between the consumption expenditure (revenue expenditure) of the Government (Union or the State Governments) and its current revenues (revenue rec..."</p>
<p><b>New concept</b></p><div><p>Revenue deficit is the gap between the consumption expenditure (revenue <br />
expenditure) of the Government (Union or the State Governments) and its current <br />
revenues (revenue receipts). It also indicates the extent to which the <br />
government has borrowed to finance the current expenditure. Revenue receipts <br />
consist of tax revenues and non-tax revenues. Tax revenues comprise proceeds of <br />
taxes and other duties levied. The expenditure incurred for normal running of <br />
government functionaries, which otherwise does not result in creation of assets <br />
is called revenue expenditure.</p><br />
<p>Examples of revenue expenditure are Interest Payments and Servicing of Debt, <br />
Pensions and (Union government’s) expenditure on Grants-in-Aid and contributions <br />
to States and Union Territories (State Governments too incur expenditure towards <br />
Grants-in-Aid and contribution to their Local Bodies). Even though some of these <br />
grants may be used for creation of assets, all grants given by the Union <br />
Government to State Governments/Union Territories and other entities are also <br />
treated as revenue expenditure. In the current Union Budget (2011-12) a new <br />
methodology of capturing the ‘effective revenue deficit’ has been worked out, <br />
which takes into account those expenditures (transfers) in the form of grants <br />
for creation of capital assets.</p><br />
<p>Elimination of the revenue deficit has been a priority for Governments, both <br />
the Union and at the State-levels, as a revenue deficit may pre-empt resources <br />
which otherwise would be available for capital investments. Implementation of <br />
Fiscal Responsibility and Budget Management (FRBM) legislation during the period <br />
2005-10 has helped Governments to reduce their revenue deficits to a <br />
considerable extent. The global slowdown in 2008-09 and 2009-10, however, <br />
affected the consolidation process. The Thirteenth Finance Commission (FC-XIII) <br />
has proposed a target of elimination of revenue deficit for the Union Government <br />
by 2013-14 and for State Governments in stages, and in a manner that all States <br />
would eliminate these targets latest by 2014-15. The revenue deficit target set <br />
by the Thirteenth Finance Commission for the Union Government for the current <br />
fiscal year, viz 2011-12, is 2.3% of GDP. As against this, the Medium Term <br />
Fiscal Plan of the Union Government has placed this figure at 3.4%.</p><br />
<p>Fiscal deficit is the difference between revenue receipts plus non-debt <br />
capital receipts on the one side and total expenditure including loans, net of <br />
repayments, on the other. It measures the gap between the government consumption <br />
expenditure including loan repayments and the anticipated income from tax and <br />
non-tax revenues. It also indicates the borrowing requirements of the government <br />
from all sources. The bigger the gap the more the government will have to borrow <br />
or resort to printing money to make both ends meet. Indiscriminate borrowings <br />
will push the economy into debt trap, while too much deficit financing may be <br />
inflationary. Increasing fiscal deficit over a period of time means government <br />
expenditure is rising faster than its revenues. Implementation of Fiscal <br />
Responsibility and Budget Management (FRBM) legislation during the period <br />
2005-10 has helped the Union and State governments to reduce their fiscal <br />
deficits to a considerable extent. However, the expansionary fiscal stance of <br />
these governments during the global slowdown years (2008-09 and 2009-10) <br />
resulted in fiscal deficit moving up significantly. The Thirteenth Finance <br />
Commission (FC-XIII) has proposed a target of attaining a 3% fiscal deficit (of <br />
GDP) for the federal government by 2013-14 and for State Governments in stages, <br />
and in a manner that all states would attain 3 % fiscal deficit (of their Gross <br />
State Domestic Product) latest by 2014-15. The fiscal deficit target set by the <br />
Thirteenth Finance Commission for the Union Government for the current fiscal <br />
year, viz 2011-12, is 4.8% of GDP. As against this, the Medium Term Fiscal Plan <br />
of the Union Government has placed this figure at 4.6%.</p><br />
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==Contributed by==<br />
* [http://www.ies.gov.in/myaccount-profile-view.php?memid=404 Srikanth Ambi, IES(2008)]<br />
<br />
[[Category:concepts|R]]</div>V.srikanth