Uttarakhand Budget Analysis

2025-26
The Finance Minister of Uttarakhand, Mr. Premchand Aggrawal, presented the Budget for the state for the financial
year 2025-26 on February 20, 2025.
Budget Highlights
▪ The Gross State Domestic Product (GSDP) of Uttarakhand for 2025-26 (at current prices) is projected to
be Rs 4,29,308 crore, amounting to growth of 13% over the revised estimate for 2024-25.
▪ Expenditure (excluding debt repayment) in 2025-26 is estimated to be Rs 75,170 crore, an increase of
9% over the revised estimate for 2024-25. In addition, debt of Rs 26,006 crore will be repaid by the state.
▪ Receipts (excluding borrowings) for 2025-26 are estimated to be Rs 62,565 crore, an increase of 6% as
compared to the revised estimate for 2024-25.
▪ Revenue surplus in 2025-26 is estimated to be 0.6% of GSDP (Rs 2,586 crore), as compared to a revenue
surplus of 0.8% of GSDP (Rs 2,852 crore) at the revised estimate stage in 2024-25.
▪ Fiscal deficit for 2025-26 is targeted at 2.9% of GSDP (Rs 12,605 crore). In 2024-25, as per the revised
estimate, fiscal deficit is expected to be 2.5% of GSDP, higher than the budgeted estimate of 2.4% of GSDP.
Policy Highlights
▪ Entrepreneurship: A venture capital fund of Rs 200 crore will be set up, to fund start-ups.
▪ Power: An automated demand response system to control over consumption of power from the grid will be
setup. This will ensure grid stability and prevent power failures.
▪ Infrastructure development: In 2025-26, 220 kms of new road will be constructed and 1,500 kms of existing
roads will be renovated and 1,000 kms of existing roads will be reconstructed.

Uttarakhand’s Economy Figure 1: Growth in Uttarakhand’s GSDP at

constant prices (2011-12)
▪ GSDP: In 2023-24, Uttarakhand’s GSDP (at
constant prices) is estimated to grow by 7.6% over 25%
the previous year. In comparison, India’s GDP is 20%
12.7%
11.5%

10.5%
estimated to grow by 9.2% in 2023-24. In 2023-24,
15%
9.6%
9.2%
8.1%

7.6%
7.6%

7.6%
agriculture, manufacturing and services are expected
to grow by 1.6%, 9.2%, and 7.6% respectively in 10%
1.6%

real terms. 5%
▪ Sectors: In 2023-24, agriculture, manufacturing, 0%
and services sectors are estimated to contribute 10%, -5%
-1.3%
-2.0%
-2.4%

47%, and 43% of Uttarakhand’s economy, -10%

respectively (at current prices).
-10.5%

-15%
-12.1%
-12.5%

▪ Per capita GSDP: In 2023-24, Uttarakhand’s per

GSDP
Services
Agriculture

Manufacturing

capita GSDP (at current prices) is estimated to be

Rs 2,95,751, an increase of 13% over 2022-23. In
2023-24, India’s per capita GDP is estimated to
increase by 8.6% over 2022-23 to Rs 2,11,725.
2020-21 2021-22 2022-23 2023-24
Note: These numbers are as per constant prices (2011-12)
which implies that the growth rate is adjusted for inflation.
Sources: MoSPI; PRS.

Anirudh TR
March 30, 2025
[email protected]
PRS Legislative Research ◼ Institute for Policy Research Studies
3rd Floor, Gandharva Mahavidyalaya ◼ 212, Deen Dayal Upadhyaya Marg ◼ New Delhi – 110002
Tel: (011) 2323 4801, 4343 4035 ◼ www.prsindia.org
 Uttarakhand Budget Analysis 2025-26 PRS Legislative Research

Budget Estimates for 2025-26

▪ Total expenditure (excluding debt repayment) in 2025-26 is targeted at Rs 75,170 crore. This is an
increase of 9% from the revised estimate of 2024-25. This expenditure is proposed to be met through
receipts (excluding borrowings) of Rs 62,565 crore and net borrowings of Rs 12,464 crore. Total receipts
for 2025-26 (other than borrowings) are expected to register an increase of 6% over the revised estimate
stage in 2024-25.
▪ The state estimates a revenue surplus of 0.6% of GSDP (Rs 2,586 crore) in 2025-26, as compared to a
revenue surplus of 0.8% of GSDP at the revised estimate stage of 2024-25.
▪ Fiscal deficit for 2025-26 is targeted at 2.9% of GSDP (Rs 12,605 crore), higher than the revised estimates
for 2024-25 (2.5% of GSDP). This is due to higher estimated growth rate in net expenditure (9%) as
compared to that of net receipts (6%).
Table 1: Budget 2025-26 - Key figures (in Rs crore)
% change % change
2023-24 2024-25 2024-25 from BE 24- 2025-26 from RE 24-
Items
Actuals Budgeted Revised 25 to RE 24- Budgeted 25 to BE 25-
25 26
Total Expenditure 81,410 89,230 87,922 -1% 1,01,175 15%
(-) Repayment of debt 23,030 19,137 19,136 -0.004% 26,006 36%
Net Expenditure (E) 58,380 70,094 68,786 -2% 75,170 9%
Total Receipts 79,463 88,597 87,360 -1% 1,01,035 16%
(-) Borrowings 28,832 27,920 28,100 1% 38,470 37%
of which central capex loans* 1,968 1,500 1,350 -10% 1,500 11%
Net Receipts (R) 50,631 60,677 59,260 -2% 62,565 6%
Fiscal Deficit (E-R) 7,749 9,416 9,526 1% 12,605 32%
as % of GSDP 2.3% 2.4% 2.5% 2.9%
Revenue Surplus 3,341 4,737 2,852 -40% 2,586 -9%
as % of GSDP 1.0% 1.2% 0.8% 0.6%
Primary Deficit 2,557 2,780 2,890 4% 5,615 94%
as % of GSDP 0.8% 0.7% 0.8% 1.3%
GSDP 3,32,998 3,94,675 3,78,245 -4% 4,29,308 13%
Note: BE is Budget Estimates; RE is Revised Estimates. *Central government has been providing 50-year interest-free loans to state
governments for capital expenditure since 2020-21. These loans are excluded from the calculation of the state's borrowing ceiling.
Sources: Annual Financial Statement, Uttarakhand’s Budget Documents 2025-26; PRS.

Expenditure in 2025-26
▪ Revenue expenditure for 2025-26 is proposed
Loans disbursed by the state
to be Rs 59,955 crore, an increase of 6% over
State governments provide loans to various institutions and
the revised estimate of 2024-25. This includes
organisations. In 2025-26, Uttarakhand has budgeted to provide
the expenditure on committed items such as loans worth Rs 452 crore. As of March 2023, Uttarakhand has
salaries, pension and interest payments and other disbursed loans worth Rs 2,455 crore.
items such as grants, and subsidies.
The CAG (2024) observed that repayment of loans was poor.
▪ Capital outlay for 2025-26 is proposed to be Rs Between 2018-19 and 2022-23, Rs 788 crore was extended to
14,763 crore, an increase of 25% from the various sectors, and Rs 103 crore was recovered. During this
revised estimate of 2024-25. Capital outlay time, there was no repayment of loans in sectors like: (i)
indicates the expenditure towards creation of transport, and (ii) water supply, sanitation, housing, and urban
assets. Key sectors that have witnessed an development. In the same period, additional loans of Rs 75 crore
had been extended towards agriculture and allied activities
uptick in capital outlay include: (i) water supply
despite minor repayments. CAG (2024) recommended that the
and sanitation (363% increase), (ii) welfare of state adopt a more holistic and proactive approach in clearing
SC, ST, OBC and minorities (53% increase), outstanding loans and advances.
and (iii) energy (51% increase).
Sources: State Finance Audit Report 2023 and State Finance
▪ In 2025-26, loans and advances by the state are Audit Report 2022, CAG; PRS.
expected to be Rs 452 crore, 29% lower as
compared to the revised estimate of 2024-25. As per the revised estimates of 2024-25, loans and advances
given by the state are expected to increase by 27% over the budget estimates. This was driven by an
increase in loans provided to: (i) water supply, housing, and urban development, (ii) animal husbandry, (iii)
power projects and (iv) government servants.

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 Uttarakhand Budget Analysis 2025-26 PRS Legislative Research

Table 2: Expenditure budget 2025-26 (in Rs crore)

% change from % change
2023-24 2024-25 2024-25 2025-26
Items BE 24-25 to RE from RE 24-25
Actuals Budgeted Revised Budgeted
24-25 to BE 25-26
Revenue Expenditure 47,274 55,816 56,383 1% 59,955 6%
Capital Outlay 10,982 13,780 11,768 -15% 14,763 25%
Loans given by the state 124 498 635 27% 452 -29%
Net Expenditure 58,380 70,094 68,786 -2% 75,170 9%
Sources: Annual Financial Statement, Uttarakhand Budget Documents 2025-26; PRS.

Committed expenditure: Committed expenditure of a state typically includes expenditure on payment of

salaries, pension, and interest. A larger proportion of the budget allocated for committed expenditure items
limits the state’s flexibility to decide on other expenditure priorities, such as capital outlay. In 2025-26,
Uttarakhand is estimated to spend Rs 37,678 crore on committed expenditure, which is 60% of its estimated
revenue receipts. This comprises spending on salaries (33% of revenue receipts), pension (16%), and interest
payments (11%). In 2023-24, 58% of Uttarakhand’s revenue receipts was spent on committed expenditure.
Table 3: Committed Expenditure in 2025-26 (in Rs crore)
% change from % change from
2023-24 2024-25 2024-25 2025-26
Committed Expenditure BE 24-25 to RE RE 24-25 to BE
Actuals Budgeted Revised Budgeted
24-25 25-26
Salaries 16,638 19,582 19,009 -3% 20,770 9%
Pension 7,597 8,146 8,146 0% 9,917 22%
Interest payment 5,192 6,636 6,636 0% 6,990 5%
Total 29,428 34,364 33,791 -2% 37,678 12%
Sources: Annual Financial Statement, Uttarakhand Budget Documents 2025-26; PRS.

Sector-wise expenditure: The sectors listed below account for 58% of the total expenditure on sectors by the
state in 2025-26. A comparison of Uttarakhand’s expenditure on key sectors with that by other states is shown
in Annexure 1.
Table 4: Sector-wise expenditure under Uttarakhand Budget 2025-26 (in Rs crore)
% change
2023-24 2024-25 2024-25 2025-26 from RE 24-
Sectors Budget Provisions (2025-26)
Actuals BE RE BE 25 to
BE 25-26
▪ Rs 3,618 crore has been allocated towards
Education, Sports, Arts,
10,268 11,700 11,931 12,466 4% government primary schools, and Rs 4,014 crore
and Culture
towards government secondary schools.
Agriculture and Allied ▪ Rs 688 crore has been allocated towards
3,690 4,450 4,451 5,051 13%
Activities horticulture and vegetable crops.
▪ Rs 1,662 crore has been allocated towards
Health and Family
4,597 4,574 4,383 4,748 8% allopathic rural health services and Rs 927 crore
Welfare
towards allopathic urban health services.
▪ Rs 945 crore has been allocated towards child
Social Welfare and
4,348 4,572 5,380 4,509 -16% welfare and Rs 725 crore towards pensions
Nutrition
under social security schemes
▪ Rs 1,138 crore allocated towards Pradhan Mantri
Rural Development 3,713 4,552 4,259 4,363 2%
Gram Sadak Yojana.
Water Supply and ▪ Rs 1,843 crore has been allocated towards Jal
1,731 1,186 1,220 3,131 157%
Sanitation Jeevan Mission.

Police 2,323 2,667 2,615 2,856 9% ▪ District police has been allocated Rs 1,548 crore.
▪ Rs 1,961 crore has been allocated towards
Transport 2,570 2,894 2,878 2,648 -8%
district and other roads.
Irrigation and Flood ▪ Rs 1,312 crore allocated towards major irrigation,
1,162 2,175 1,822 1,926 6%
Control and Rs 273 crore towards minor irrigation.
▪ Rs 1,202 crore has been allocated as capital
Energy 673 1,263 911 1,403 54%
outlay on power projects.

% of total expenditure
60% 58% 58% 58%
on all sectors
Sources: Annual Financial Statement, Andhra Pradesh Budget Documents 2025-26; PRS.

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 Uttarakhand Budget Analysis 2025-26 PRS Legislative Research

Receipts in 2025-26
▪ Total revenue receipts for 2025-26 are estimated to Fifteenth Finance Commission Grants
be Rs 62,541 crore, an increase of 6% over the revised States receive certain grants from the centre based on
estimate of 2024-25. Of this, Rs 28,410 crore (45%) recommendation of the 15th Finance Commission (FC).
will be raised by the state through its own resources, These include: revenue deficit grants, grants for local
and Rs 34,130 crore (55%) will come from the bodies, grants for disaster response funds and health
centre. Resources from the centre will be in the form sector grants. In 2025-26, Uttarakhand is estimated to
of state’s share in central taxes (25% of revenue receive Rs 4,764 crore as FC grants. Of this, Rs 1,184
receipts) and grants (29% of revenue receipts). crore is towards rural and urban local bodies, and Rs 1,142
crore is towards state disaster response and mitigation
▪ Devolution: In 2025-26, the state’s share in central funds. Rs 339 crore has also been allocated as health
taxes is estimated at Rs 15,903 crore, an increase of sector grants. CAG (2024) had noted that in 2022-23, the
11% over the revised estimate of 2024-25. state did not receive the recommended share of grants for:
(i) rural and urban local bodies, (ii) disaster response fund
▪ Grants from the centre in 2025-26 are estimated at and (iii) health sector. In 2022-23, against a
Rs 18,227 crore, a marginal increase of 0.5% over the recommendation of Rs 657 crore as grants for the state’s
revised estimates for 2024-25. local bodies, Rs 478 crore (73%) was released. Rs 984
crore was recommended as grants towards state disaster
▪ State’s own tax revenue: Uttarakhand’s total own response fund in 2022-23. Against this, Rs 886 crore
tax revenue is estimated to be Rs 24,015 crore in (90%) was released. Against a recommendation of Rs 150
2025-26, an increase of 8% over the revised estimate crore as health sector grants, no release was made in
of 2024-25. Own tax revenue as a percentage of 2022-23. In 2021-22, against a recommendation of Rs 634
GSDP estimated at 5.6% in 2025-26, lower than the crore for the state’s local bodies, Rs 565 crore (90%) was
released.
revised estimates for 2024-25 (5.9%). As per the
actual figures for 2023-24, own tax revenue as a Source: State Finance Audit Reports 2022-23 and 2021-22,
percentage of GSDP was 5.8% CAG, 2023 and 2024; PRS.

Table 5: Break-up of the state government’s receipts (in Rs crore)

% change from % change from
2023-24 2024-25 2024-25 2025-26
Items BE 2024-25 to RE RE 2024-25 to BE
Actuals Budgeted Revised Budgeted
2024-25 2025-26
State's Own Tax 19,245 22,509 22,134 -2% 24,015 8%
State's Own Non-Tax 4,418 4,873 4,577 -6% 4,395 -4%
Share in Central Taxes 12,628 13,637 14,387 6% 15,903 11%
Grants-in-aid from Centre 14,324 19,533 18,137 -7% 18,227 0.5%
Revenue Receipts 50,615 60,553 59,236 -2% 62,541 6%
Non-debt Capital Receipts 16 124 24 -80% 24 0%
Net Receipts 50,631 60,677 59,260 -2.3% 62,565 6%
Note: BE is Budget Estimates; RE is Revised Estimates.
Sources: Annual Financial Statement, Uttarakhand Budget Documents 2025-26; PRS.

▪ In 2025-26, State GST is estimated to be the largest source of own tax revenue (47% share). State GST
revenue is estimated to increase by 10% over the revised estimates of 2024-25.
▪ State excise revenue is estimated to be 12% higher in 2025-26 over the revised estimate of 2024-25.
▪ Revenue from taxes on vehicles in 2025-26 is expected to be 11% higher than the revised estimate for
2024-25. In the revised stage of 2024-25, revenue from this source is expected to come down by 6%.
▪ Land revenue in 2024-25 is expected to reduce by 42% in the revised stage as compared to the budget
stage. In 2025-26, land revenue is expected to increase by 5% over the revised estimate of 2024-25.
Table 6: Major sources of state’s own-tax revenue (in Rs crore)
% change from % change from
2023-24 2024-25 2024-25 2025-26
Head BE 2024-25 to RE 2024-25 to
Actuals Budgeted Revised Budgeted
RE 2024-25 BE 2025-26
State GST 8,297 10,201 10,199 -0.02% 11,221 10%
State Excise 4,041 4,439 4,499 1% 5,060 12%
Stamps Duty and Registration Fees 2,432 2,665 2,682 1% 2,799 4%
Sales Tax/ VAT 2,519 2,504 2,521 1% 2,501 -1%
Taxes on Vehicles 1,390 1,550 1,451 -6% 1,604 11%
Taxes and Duties on Electricity 334 550 525 -5% 550 5%
Land Revenue 14 50 29 -42% 30 5%
GST Compensation Grants 477 0.0001 0.0001 0% 0.0001 0%
Sources: Annual Financial Statement, Revenue Budget, Uttarakhand Budget Documents 2025-26; PRS.
March 30, 2025 -4-
 Uttarakhand Budget Analysis 2025-26 PRS Legislative Research

Deficits, Debt, and FRBM Targets for 2025-26

The Uttarakhand Fiscal Responsibility and Budget Management Act, 2005 provides annual targets to progressively
reduce the outstanding debt, revenue deficit and fiscal deficit of the state government.
Revenue balance: It is the difference of revenue expenditure and revenue receipts. A revenue deficit implies that
the government needs to borrow to finance those expenses which do not increase its assets or reduces its liabilities.
The budget estimates a revenue surplus of Rs 2,586 crore (or 0.6% of the GSDP) in 2025-26.
Fiscal deficit: It is the excess of total expenditure over total receipts. This gap is filled by borrowings by the
government and leads to an increase in total liabilities. In 2025-26, the fiscal deficit is estimated to be 2.9% of
GSDP. For 2025-26, the central government has permitted fiscal deficit of up to 3% of GSDP to states.
Additional borrowing space up to 0.5% of GSDP will also be available for undertaking certain power sector
reforms. As per the revised estimates, in 2024-25, the fiscal deficit of the state is expected to be 2.5% of GSDP.
This is higher than the budget estimate of 2.4% of GSDP.
Outstanding debt: Outstanding debt is the accumulation of total borrowings at the end of a financial year. At
the end of 2025-26, the outstanding debt is estimated to be 25% of GSDP, higher than the budget estimate for
2024-25 (24% of GSDP).
Figure 2: Revenue and Fiscal Balance (% of GSDP) Figure 3: Outstanding Debt (as % of GSDP)
50%
4%

3%
1.8%

40%
1.5%

2%

31.4%
1.0%

0.8%

0.6%

28.3%
0.5%

1%
26.0%

24.98%
25.8%

25.8%

24.9%
24.9%

24.9%
24.9%
30%
0%
0.0%

-1% 20%
-0.8%

-0.9%

-0.91%
-1.0%
-1.4%

-2%
10%
-2.3%

-2.3%

-3%
-2.5%
2025-26 BE -2.9%

2028-29*-2.95%
2027-28* -3.0%
2026-27* -3.0%
2019-20 -3.0%

-4%
2024-25 RE
2020-21

2022-23

2023-24
2021-22

0%
2020-21

2023-24
2019-20

2022-23

2024-25 RE

2025-26 BE

2026-27*

2027-28*

2028-29*
2021-22

Revenue Balance Fiscal Balance

Note: *Figures from 2026-27 onwards are projections. RE is

Note: *Figures from 2026-27 onwards are projections. BE is budget
Revised Estimates; BE is budget estimates. Negative figures indicate
estimates.
a deficit.
Sources: Medium Term Fiscal Policy, Uttarakhand Budget
Sources: Medium Term Fiscal Policy, Uttarakhand Budget
Documents of various years; PRS.
Documents of various years; PRS.

Outstanding Government Guarantees: Outstanding debt of states do not include a few other liabilities that are
contingent in nature, which states may have to honour in certain cases. State governments guarantee the
borrowings of State Public Sector Enterprises (SPSEs) from financial institutions. For 2025-26 the state’s
outstanding guarantee is estimated to be Rs 106 crore, which is 0.02% of Uttarakhand’s GSDP.

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March 30, 2025 -5-

 Uttarakhand Budget Analysis 2025-26 PRS Legislative Research

Annexure 1: Comparison of states’ expenditure on key sectors

The graphs below compare Uttarakhand’s expenditure in 2025-26 on six key sectors as a proportion of its total
expenditure on all sectors. The average for a sector indicates the average expenditure in that sector by 31 states
(including Uttarakhand) as per their budget estimates of 2024-25.1
▪ Education: Uttarakhand has allocated 16.7% of its expenditure on education in 2025-26. This is higher
than the average allocation for education by states in 2024-25 (15%).
▪ Health: Uttarakhand has allocated 6.4% of its expenditure on health in 2025-26. This is higher than the
average allocation for health by states in 2024-25 (6.2%).
▪ Rural development: Uttarakhand has allocated 5.8% of its expenditure on rural development in 2025-26.
This is higher than the average allocation for rural development by states in 2024-25 (5.1%).
▪ Roads and bridges: Uttarakhand has allocated 3% of its expenditure on roads and bridges in 2025-26.
This is lower than the average allocation for roads and bridges by states in 2024-25 (4.3%).
▪ Energy: Uttarakhand has allocated 1.9% of its expenditure on energy in 2025-26. This is lower than the
average allocation for agriculture by states in 2024-25 (5%).
▪ Water Supply and Sanitation: Uttarakhand has allocated 4.2% of its expenditure on water supply and
sanitation in 2025-26. This is higher than the average allocation for water supply and sanitation by states in
2024-25 (2.5%).

Spending on education as a Spending on health as a % of Spending on rural

% of total expenditure total expenditure development as a % of total
expenditure
20% 17.6% 16.8% 17.5% 16.7% 10%
15.0% 7.9%
8% 8% 6.4% 6.5% 6.2%
15% 6.6% 6.4% 6.4% 6.2% 5.8%
6% 5.1%
6%
10%
4% 4%
5% 2% 2%
0% 0% 0%
2024-25 (RE)
2024-25 (RE)

2024-25 (BE)

2025-26 (BE)
2023-24

2024-25 (BE)

2025-26 (BE)

2023-24
Average of all states

Average of all states

2024-25 (RE)
2023-24

2024-25 (BE)

2025-26 (BE)

states (2024-25 BE)

(2024-25 BE)

(2024-25 BE)

Average of all
Spending on roads and Spending on energy as a % of Spending on water supply
bridges as a % of total total budget and sanitation as a % of
expenditure total budget
6%
5.0%
6% 5% 5% 4.2%
4.3% 4%
3.8% 3.6%
4% 3.0%
4% 3.4%
3.0% 3% 3% 2.5%
1.8% 1.9% 1.7% 1.8%
2% 1.3% 2%
2% 1.2%
1% 1%
0% 0% 0%
2024-25 (RE)

2024-25 (RE)
2024-25 (RE)
2023-24

2024-25 (BE)

2025-26 (BE)

2023-24

2024-25 (BE)

2025-26 (BE)

2023-24

2024-25 (BE)

2025-26 (BE)
Average of all states
Average of all states

Average of all states

(2024-25 BE)

(2024-25 BE)

(2024-25 BE)

Note: 2023-24, 2024-25 (BE), 2024-25 (RE), and 2025-26 (BE) figures are for Uttarakhand.
Sources: Annual Financial Statement, Uttarakhand Budget Documents 2025-26; various state budgets; PRS.

1
The 31 states include the Union Territories of Delhi, Jammu and Kashmir, and Puducherry.
March 30, 2025 -6-
 Uttarakhand Budget Analysis 2025-26 PRS Legislative Research

Annexure 2: Comparison of 2023-24 Budget Estimates and Actuals

The following tables compare the actuals of 2023-24 with budget estimates for that year.

Table 7: Overview of Receipts and Expenditure (in Rs crore)

Particular 2023-24 BE 2023-24 Actuals % change from BE to Actuals
Net Receipts (1+2) 57,133 50,631 -11%
1. Revenue Receipts (a+b+c+d) 57,057 50,615 -11%
a. Own Tax Revenue 19,983 19,245 -4%
b. Own Non-Tax Revenue 4,762 4,418 -7%
c. Share in central taxes 11,420 12,628 11%
d. Grants-in-aid from the Centre 20,893 14,324 -31%
2. Non-Debt Capital Receipts 75 16 -79%
3. Borrowings 19,460 28,832 48%
Of which central capex loans 1,300 1,968 51%
Net Expenditure (4+5+6) 66,179 58,380 -12%
4. Revenue Expenditure 52,748 47,274 -10%
5. Capital Outlay 13,134 10,982 -16%
6. Loans and Advances 298 124 -58%
7. Debt Repayment 11,228 23,030 105%
Revenue Surplus 4,310 3,341 22%
Revenue Surplus (as % of GSDP) 1.3% 1.0%
Fiscal Deficit 9,047 7,749 -14%
Fiscal Deficit (as % of GSDP) 2.7% 2.3%
Source: Uttarakhand Budget Documents of various years; PRS.

Table 8: Key Components of State's Own Tax Revenue

Tax Source/Head 2023-24 BE 2023-24 Actuals % change from BE to Actuals
Land Revenue 54 14 -74%
Taxes and Duties on Electricity 550 334 -39%
Taxes on Vehicles 1,475 1,390 -6%
State GST 8,788 8,297 -6%
Sales Tax/ VAT 2,603 2,519 -3%
State Excise 3,950 4,041 2%
Stamps Duty and Registration Fees 2,063 2,432 18%
Source: Uttarakhand Budget Documents of various years; PRS.

Table 9: Allocation towards Key Sectors

Sector 2023-24 BE 2023-24 Actuals % change from BE to Actuals
Welfare of SC, ST, OBC, and Minorities 475 269 -43%
Energy 1,172 673 -43%
Agriculture and Allied Activities 5,037 3,690 -27%
Rural Development 4,845 3,713 -23%
Irrigation and Flood Control 1,507 1,162 -23%
Housing 318 274 -14%
Urban Development 1,258 1,136 -10%
Transport 2,708 2,570 -5%
of which Roads and Bridges 2,257 2,224 -1%
Education, Sports, Arts, and Culture 10,907 10,268 -6%
Police 2,447 2,323 -5%
Social Welfare and Nutrition 4,558 4,348 -5%
Health and Family Welfare 4,435 4,597 4%
Water Supply and Sanitation 1,283 1,731 35%
Source: Uttarakhand Budget Documents of various years; PRS.

March 30, 2025 -7-