Spooked by Budget Numbers, FD etc.
Just did some macro level analysis of budget. The analysis has me spooked for some time on some major points:
Government expenditure = 13% of GDP
Rvenue+ capital expenditure = 11.4 + 1.6
Revenue+capital receipts = 9.2 + 3.8
Revenue deficit = 11.4 - 9.2 = 2.2% of GDP ---> which is corroborated by BE of FY19
Revenue receipts as % of budget = 9.2/13 = 70% of budget---> This is corroborated by the pie chart in yojana on where does rupee come from, BUT excluding non-tax revenue, so does non-tax revnue not make part of capital receipts?
tax revenue+ non-tax revenue+ non-debt capital = 70+8+3 = 81% ---> rest 19% of budet is government's financing needs, that is fiscal deficit, right. But 19% of 13.2 is not 3.4 - which is the FY19's FD. Can anyone explain these two points to me. Where am I wrong?
(All figures for FY 2019 BE)