India vs Maharashtra โ Budget Comparison 2003-04
How does Maharashtra's state budget compare with the Union Budget for FY 2003-04?
Centre vs State โ Key Budget Metrics 2003-04
India (Union)
Rs 4.71 lakh crore
Maharashtra
Rs 53,000 crore
India (Union)
Rs 2.64 lakh crore
Maharashtra
Rs 40,500 crore
India (Union)
Rs 1.09 lakh crore
Maharashtra
Rs 7,100 crore
India (Union)
Rs 1.87 lakh crore
Maharashtra
Rs 26,325 crore
India (Union)
4.5%
Maharashtra
3.4%
India (Union)
Rs 1.24 lakh crore
Maharashtra
Rs 7,900 crore
Receipts & Expenditure โ India vs Maharashtra
| Particulars | India (Union) | Maharashtra | Difference |
|---|---|---|---|
| Total Receipts | Rs 2.64 lakh crore | Rs 40,500 crore | +551.6% |
| Tax Revenue (Net) | Rs 1.87 lakh crore | Rs 26,325 crore | +610.3% |
| Non-Tax Revenue | Rs 76,896 crore | Rs 6,075 crore | +1165.8% |
| Total Expenditure | Rs 4.71 lakh crore | Rs 53,000 crore | +789.1% |
| Revenue Expenditure | Rs 3.62 lakh crore | Rs 45,900 crore | +688.8% |
| Capital Expenditure | Rs 1.09 lakh crore | Rs 7,100 crore | +1437.0% |
| Interest Payments | Rs 1.24 lakh crore | Rs 7,900 crore | +1470.7% |
| Fiscal Deficit | Rs 1.32 lakh crore | Rs 12,700 crore | +940.2% |
| Fiscal Deficit (% of GDP) | 4.5% | 3.4% | โ |
| Debt-to-GDP Ratio | 63.2% | 26.6% | โ |
Department-wise Spending โ India vs Maharashtra
| Department | India (Union) | Maharashtra | Difference |
|---|---|---|---|
1. Ministry of Finance (Interest Payments & Transfers) | Rs 1.69 lakh crore | Rs 0 | โ |
2. Ministry of Defence | Rs 73,000 crore | Rs 0 | โ |
3. Ministry of Home Affairs | Rs 30,900 crore | Rs 0 | โ |
4. Ministry of Consumer Affairs, Food & Public Distribution | Rs 25,900 crore | Rs 0 | โ |
5. Ministry of Rural Development | Rs 23,600 crore | Rs 0 | โ |
6. Ministry of Education | Rs 18,100 crore | Rs 0 | โ |
7. Ministry of Agriculture & Farmers' Welfare | Rs 15,600 crore | Rs 0 | โ |
8. Ministry of Communications | Rs 11,600 crore | Rs 0 | โ |
9. Ministry of Health & Family Welfare | Rs 11,100 crore | Rs 0 | โ |
10. Ministry of Road Transport & Highways | Rs 10,200 crore | Rs 0 | โ |
11. Ministry of Petroleum & Natural Gas | Rs 8,800 crore | Rs 0 | โ |
12. Ministry of Railways | Rs 8,300 crore | Rs 0 | โ |
13. Ministry of Women & Child Development | Rs 6,600 crore | Rs 0 | โ |
14. Ministry of Housing & Urban Affairs | Rs 5,700 crore | Rs 0 | โ |
15. Ministry of Jal Shakti | Rs 5,000 crore | Rs 0 | โ |
Understanding Centre vs State Budget โ India and Maharashtra
India's federal fiscal structure divides spending responsibilities between the Centre and states. The Union Budget covers national priorities like defence, foreign affairs, and central schemes, while state budgets handle education, health, police, and local infrastructure.
The Finance Commission determines how central tax revenue is shared with states. Currently, 41% of the divisible pool is transferred to states. Additionally, states receive grants-in-aid for specific schemes and programs.
Maharashtra's share of central transfers, combined with its own tax revenue (state GST, excise, stamp duty, vehicle tax) and non-tax revenue, determines its total resource envelope. Comparing this with the Union Budget provides a complete picture of public finance in India.
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