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Table 106 : Centre’s Gross Fiscal Deficit and It's Financing

                (Rupees crore)
Year   GFD Receipts + GFD Expenditure $ Gross fiscal deficit (3-2) Financing of GFD
External finance Internal Finance
Market borrowings Other liabilities @ Budget deficit #   Total (6+7+8)
1   2 3 4 5 6 7 8   9
1980-81   12373 20672 8299 1281 2679 1862 2477   7018
1981-82   15016 23682 8666 964 2913 3389 1400   7702
1982-83   17434 28061 10627 1258 3771 3942 1656 * 9369
1983-84   19711 32741 13030 1338 4038 6237 1417 * 11692
1984-85   23466 40882 17416 1452 4095 8124 3745   15964
1985-86   28035 49893 21858 1449 4884 10209 5316 * 20409
1986-87   33083 59425 26342 2024 5532 10525 8261   24318
1987-88   37037 64081 27044 2893 5862 12473 5816   24151
1988-89   43591 74514 30923 2460 8418 14403 5642   28463
1989-90   52296 87928 35632 2595 7404 15041 10592   33037
1990-91   54954 99586 44632 3181 8001 22103 11347   41451
1991-92   69069 105394 36325 5421 7510 16539 6855   30904
1992-93   76089 116262 40173 5319 3676 18866 12312   34854
1993-94   75405 135662 60257 5074 28928 15295 10960   55183
1994-95   96161 153864 57703 3582 20326 32834 961   54121
1995-96   110492 170735 60243 318 34001 16117 9807   59925
1996-97   126659 193392 66733 2987 19093 30550 13184   63746
1997-98   134798 223735 88937 1091 32499 56257 -910   87846
1998-99   155359 268707 113348 1920 68988 42650 -209   111429
1999-00   183206 287922 104716 1180 62076 40596 864   103536
2000-01   194730 313546 118816 7505 73431 39077 -1197   111311
2001-02   204952 345907 140955 5601 90812 46038 -1496   135354
2002-03   234899 379971 145072 -11934 104126 50997 1883   157006
2003-04 RE 277527 409630 132103 -11705 85671 68369 -10232   143808
2004-05 BE 313322 450729 137407 8076 90365 25369 13597   129331
RE Revised Estimates.
BE Budget Estimates.
+ Include revenue receipts and non-debt capital receipts (disinvestments).      
$ Include revenue expenditure, capital outlay and loans and advances, net of recovery .      
@ Other liabilities comprise small savings, state provident funds, special deposits, reserve funds, treasury bills excluding 364-day treasury bills, etc. For the years 1999-00 and 2001-02, small savings and public provident funds are represented by National Small Saving Fund (NSSF) investment in Central Government Special securities and hence form part of Centre's public debt. Reinvestment of debt-swap proceeds by NSSF in Central Government special securities is included in 2003-04.
# Variation in 91-day treasury bills issued net of changes in cash balances with RBI up to March 31,1997. From April 1,1997, these figures represent draw-down of cash balances.
* Excluding medium-term loans of Rs.1,743 crore in 1982-83, Rs.400 crore in 1983-84 and Rs.1,628 crore in 1985-86 given to State Governments to clear their overdrafts with the RBI.
Note : 1. Market borrowings include dated securities and 364-day treasury bills.
2. For year 1994-95 to 1996-97, GFD receipts include values of bonus shares also.      
Also see Notes on Tables.            
Source : Budget documents of the Government of India.          

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