Audit Reports


Report No.1 of 2022-State Finances, Government of Gujarat

Date on which Report Tabled:
Thu 31 Mar, 2022
Date of sending the report to Government
Fri 25 Mar, 2022
Government Type
Sector Finance



This Report provides an analytical review of the finances of the State Government based on the Annual Accounts for the year 2020-21. The Report is structured in our Chapters.


Chapter 1 describes the basis and approach to the Report and the underlying data provides an overview of structure of Government Accounts, budgetary processes, macro-fiscal analysis of key indices and State’s fiscal position including the deficits/surplus.

Chapter 2 provides a broad perspective of the finances of the State, analyses the critical changes in major fiscal aggregates relative to the previous year, overall trends during the last five years, debt profile of the State and key Public Account transactions, based mainly on the Finance Accounts of the State.

Chapter 3 is based on the Appropriation Accounts and gives a Grant-wise description of Appropriations and the manner in which the allocated resources were managed by the service delivery Departments. Observations on the audit of administrative department/ controlling officers relating to Grant No 09 (Education) and Grant No. 86 (Roads and Buildings) are included.

Chapter 4 is an inventory of the Government’s compliance with various reporting requirements and financial rules along with additional data collated from several other sources in support of the findings.

Important Observations:

The State achieved the target of elimination of revenue deficit from 2011-12 onwards.  However, it turned revenue deficit at ₹ 22,548 crore in 2020-21 against the projections of revenue surplus of ₹ 789 crore made in the Medium-Term Fiscal Policy Statement (MTFPS) target for 2020-21.

At the end of 2020-21, fiscal deficit as percentage to GSDP stood at 2.44 per cent, which was within the limit of three per cent target set in Gujarat Fiscal Responsibility Act by State Government.

In the fiscal consolidation roadmap, the State Government could maintain the percentage of public debt to GSDP at 18.01 per cent during 2020-21 against the target of 15.72 per cent set out in MTFPS.

During 2020-21, 63 per cent of revenue receipts came from State’s own resources.  The State’s own tax revenue decreased by ₹ 8,741 crore (11.06 per cent) in 2020-21 over the previous year, while non-tax revenue decreased by ₹ 7,611 crore (42.04 per cent) over the previous year

Against total budgetary provision of ₹ 2,28,776 crore during 2020-21, an expenditure of ₹ 2,00,216 crore was incurred.  This resulted in net savings of ₹ 28,561 crore (savings of ₹ 30,280 crore offset by an excess of ₹ 1,719 crore).


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