This post covers topic-wise structured notes from the Himachal Pradesh Economic Survey (HP Economic Survey) 2024–25 (BE), designed specifically for HPAS, HP Allied Services, HPTET, and other Himachal Pradesh government exams.
🧭 Quick Summary of Chapter 3
| Metric | Value (FY 2024–25 BE) |
|---|---|
| Total Revenue Receipts | ₹42,153 crore |
| Total Expenditure | ₹58,444 crore |
| Revenue Expenditure | ₹46,667 crore |
| Capital Expenditure | ₹6,270 crore |
| Interest Payments | ₹6,255 crore |
| GSDP | ₹2.32 lakh crore (est.) |
| Gender Budget | ₹3,065 crore |
| Debt-to-GSDP Ratio | ~40% |
📘 Budget Highlights – FY 2024–25
📌 Revenue Receipts Breakdown
| Component | Amount (₹ Cr) | Share (%) of GSDP |
|---|---|---|
| Tax Revenue (incl. central share) | ₹25,225 | 10.86% |
| Non-Tax Revenue | ₹3,600 | 1.57% |
| Grants-in-Aid | ₹13,328 | – |
| Total Revenue Receipts | ₹42,153 | 18.15% |
📌 Expenditure Highlights
| Component | Amount (₹ Cr) | Share of GSDP (%) | Growth YoY |
|---|---|---|---|
| Total Expenditure | ₹58,444 | 25.17% | ↓ 5.16% |
| Revenue Expenditure | ₹46,667 | 20.10% | ↑ 1.61% |
| Capital Expenditure | ₹6,270 | 2.70% | ↓ 7.54% |
| Interest Payments | ₹6,255 | – | ↑ 10.55% |
🔍 Revenue Composition (% of Total Receipts)
| Component | 2022–23 | 2023–24 (RE) | 2024–25 (BE) |
|---|---|---|---|
| State’s Own Tax Revenue | 17% | 21% | 27% |
| Share in Central Taxes | 13% | 15% | 18% |
| Non-Tax Revenue | 4% | 5% | 6% |
| Grants-in-Aid | 27% | 25% | 24% |
📌 Trend: State’s own tax revenue is consistently rising; grants-in-aid are declining.
💡 Major Departmental Allocations (FY 2024–25 BE)
- Education: ₹9,812 crore
- Health: ₹3,390 crore
- Gender Budget: ₹3,065 crore
💰 Committed & Sectoral Expenditure
| Component | Amount (₹ Cr) | % of Total Exp. | % of GSDP |
|---|---|---|---|
| Salary & Wages | ₹17,247 | 29.51% | 7.43% |
| Pension | ₹9,961 | 17.04% | – |
| Interest Payments | ₹6,255 | 10.70% | – |
| Committed Total | ₹33,463 | 57.26% | 14.41% |
| Subsidies | ₹1,189 | 2.03% | – |
📈 Year-on-Year Growth Comparison (2024–25 BE)
| Indicator | Growth Rate |
|---|---|
| Tax Revenue | ↑ 14.99% |
| Interest Payments | ↑ 10.55% |
| Non-Tax Revenue | ↑ 9.50% |
| Revenue Receipts | ↑ 4.22% |
| Revenue Expenditure | ↑ 1.61% |
| Capital Expenditure | ↓ 7.54% |
| Total Expenditure | ↓ 5.16% |
| Grants-in-Aid | ↓ 12.50% |
📊 Non-Tax Revenue Composition (% of Total Receipts)
| Source | 2022–23 | 2023–24 | 2024–25 |
|---|---|---|---|
| Economic Services (Power, Water etc.) | 3.4% | 3.8% | 4.8% |
| General Services | 0.5% | 0.7% | 0.8% |
| Social Services | 0.5% | 0.5% | 0.5% |
| Interest/Dividends/Profits | 0.4% | 0.5% | 0.5% |
📉 Debt Position (FY 2022–23 Data)
- Public Debt: ₹59,000 crore
- Internal Debt: ₹56,000 crore
- Central Loans: ₹3,000 crore
- Other Liabilities: ₹17,700 crore
- Total Liabilities: ₹77,000 crore
- Debt-to-GSDP Ratio: 39.99%
📚 Why These Notes Matter
These notes will help you:
- Prepare for HPAS Mains GS3 (Economy) & Prelims
- Understand HP’s fiscal health trends
- Answer questions on budget allocation, GSDP trends, and revenue structures
📝 Sample Questions That Can Be Asked
- What percentage of total expenditure is committed expenditure in HP for FY2024–25?
- Which component contributes most to Himachal’s non-tax revenue?
- How has the state’s own tax revenue changed as a % of total receipts?
- What is the GSDP share of revenue expenditure in FY2024–25?
fiscal deficit : 10000 crore , it decreased from 12200 crore
revenue deficit : 4500 crore , it decreased from 5400 crore
make sure no redundancy in the notes .these are notes on hp economic survey 2024-25 for hp gk , hpas exam etc . State Finances (FY2024-25 BE)
Total Revenue Receipts: ₹42,000 crore
Tax Revenue (incl. Central share): ₹25,000 crore
Non-Tax Revenue: ₹3,600 crore
Grants-in-Aid (Central): ₹13,000 crore (↓ from ₹18,000 crore in 2020-21)
Total Expenditure: ₹58,000 crore
Revenue Expenditure: ₹47,000 crore (~80%)
Capital Expenditure: ₹6,270 crore (~11%)
Interest Payments: ₹6,255 crore (↑ by 10.55%)
Major Allocations:
Education: ₹9,800 crore
Health: ₹3,400 crore
As % of GSDP:
Revenue Receipts: 18%
Tax Revenue: 11%
Total Expenditure: 25%
Fiscal Indicators as a percentage of GSDP for FY2024-25 (BE):
Revenue Receipts: 18.15% of GSDP (down from 19.20% in FY2023-24 RE)
Tax Revenue: 10.86% of GSDP (up from 10.41% in FY2023-24 RE)
Non-Tax Revenue: 1.57% of GSDP (down from 1.58% in FY2023-24 RE)
Total Expenditure: 25.17% of GSDP
Revenue Expenditure: 20.10% of GSDP
Capital Expenditure: 2.70% of GSDP
Components of Revenue Receipts (% of Total Receipts)
Component 2022-23 (A) 2023-24 (RE) 2024-25 (BE)
State’s Own Tax Revenue 17% 21% 27%
Share in Central Taxes 13% 15% 18%
Non-Tax Revenue 4% 5% 6%
Grants-in-Aid 27% 25% 24%
Trends to Remember:
State’s Own Tax: Gradually increasing – shows stronger state revenue effort
Central Share: Also rising, indicating better devolution or higher collections
Non-Tax Revenue: Slight improvement
Grants-in-Aid: Declining trend – from 27% to 24%
Revenue Receipts & Components (₹ in crore, Approximate)
Component 2020-21 2022-23 2023-24 RE 2024-25 BE
Total Revenue Receipts ₹33K ₹38K ₹40K ₹42K
– Tax Revenue ₹13K ₹18.5K ₹22K ₹25K
– Non-Tax Revenue ₹2.2K ₹2.9K ₹3.3K ₹3.6K
– Grants-in-Aid ₹18.4K ₹16.7K ₹15.2K ₹13.3K
Expenditure & Interest Payments (₹ in crore, Approximate)
Component 2020-21 2022-23 2023-24 RE 2024-25 BE
Total Expenditure ₹50K ₹61K ₹62K ₹58K
– Revenue Expenditure ₹33.5K ₹44.5K ₹46K ₹47K
– Capital Expenditure ₹5.3K ₹6K ₹6.8K ₹6.3K
Interest Payments ₹4.5K ₹4.8K ₹5.7K ₹6.3K
Components of Non-Tax Revenue as % of Total Receipts
Component 2022-23 (A) 2023-24 (RE) 2024-25 (BE)
Economic Services 3.4% 3.8% 4.8%
General Services 0.5% 0.7% 0.8%
Social Services 0.5% 0.5% 0.5%
Interest Receipts, Dividends & Profits 0.4% 0.5% 0.5%
Non-tax revenue is projected to rise by 9.50% to ₹3,600 crore in FY2024-25 (BE) from ₹3,300 crore in FY2023-24 (RE). Economic services (including electricity, gas, and water supply) are the largest contributor to non-tax revenue
growth percentages for FY 2024-25 (BE), arranged from highest to lowest:
Tax Revenue (including central share): 14.99%
Interest Payments: 10.55%
Non-Tax Revenue: 9.50%
Revenue Receipts: 4.22%
Revenue Expenditure: 1.61%
Total Expenditure: -5.16%
Capital Expenditure: -7.54%
Grants in Aid: -12.50%
Revenue Expenditure for FY2024-25 (BE): ₹46,700 crore (5.05% growth from ₹44,400 crore in FY2022-23)
Percentage of GSDP: 20.10%
Share of Total Expenditure: 79.85%
Capital Expenditure for FY2024-25 (BE): ₹6,270 crore (3.99% growth from ₹6,030 crore in FY2022-23)
Percentage of GSDP: 2.70%
Share of Total Expenditure: 10.73%
2024-25: Composition of Revenue Expenditure (₹ in crore)
Salary and Wages: ₹17,247 crore
% of Total Expenditure: 29.51%
% of GSDP: 7.43%
Pension: ₹9,961 crore
% of Total Expenditure: 17.04%
% of GSDP: (not mentioned)
Interest: ₹6,255 crore
% of Total Expenditure: 10.70%
% of GSDP: (not mentioned)
Total Committed Expenditure: ₹33,463 crore
% of Total Expenditure: 57.26%
% of GSDP: 14.41%
Subsidy: ₹1,189 crore
% of Total Expenditure: 2.03%
FY2022-23 debt data:
Public Debt: ₹59,000 crore
Internal Debt: ₹56,000 crore
Loans from Centre: ₹3,000 crore
Other Liabilities: ₹17,700 crore
Total Liabilities: ₹77,000 crore
GSDP: ₹1.92 lakh crore
Debt-to-GSDP Ratio: 40%
The gender budget for FY2024-25 (BE) is estimated to be ₹3065 crore.The projected revenue receipts for FY2024-25 Budget Estimates (BE)
are ₹42,153 crore, a significant increase of 4.22 per cent from ₹40,446
crore in FY2023-24 Revised Estimates (RE).
The State’s tax revenue (including central taxes) is expected to reach
₹25,225 crore, a 14.99 per cent rise in FY2024-25 (BE) from ₹21,936
crore in FY2023-24 (RE).
A budget of ₹9,812 crore is dedicated to education, while the health
sector is allocated ₹3,390 crore in FY2024-25 (BE).
The grant from the centre has remained at 24.1 per cent of the total
receipts of the State in FY2024-25(BE). According to the financial
projections, the grant from the centre will be around 3.5 percentage
points lower in FY2024-25 (BE) compared to FY2022–23(A).
Total revenue receipts are 18.15 per cent of GSDP for FY2024-25 (BE)
as compared to 19.87 in FY2022–23(A).
Economic services which are the highest contributing component of nontax revenue include electricity, gas and water supply have a percentage
4.8 of total receipts of the State in FY2024-25 (BE).
Total expenditure as per budget estimates for FY2024-25 is ₹58,444
crore.
The budget has earmarked ₹6,270 crore for capital expenditure and
₹46,667 crore for Revenue expenditure in FY2024-25 (BE).
Total committed expenditure is expected to be ₹33,463 crore which is
57.26 per cent of total expenditure and 14.41 per cent of the GSDP for
the FY2024-25 (BE).
Debt as a percentage to GSDP was 39.99 per cent in FY2022-23 as
against 37.35 per cent in FY2021-22.
The gender budget for FY2024-25 (BE) is estimated to be ₹3065 crore