The Basics of Dearness Allowance – Dearness Allowance (DA) is a cost of living adjustment allowance paid to employees to help them maintain their purchasing power and standard of living despite the rising cost of living. It is typically paid to government employees, as well as employees of public sector and some private sector organizations.
- DA is usually calculated as a percentage of the employee’s basic salary, and it is reviewed and revised periodically, typically every six months, based on the Consumer Price Index (CPI) data and other economic indicators.
- Expected DA From Jan 2023 is 42% The expected Dearness Allowance January 2023 is 42% and its may vary from upcoming AICPIN data.
The expected dearness allowance (DA) rate of 42% for January 2023 is based on the current CPI data and other economic indicators. It is important to note that the actual DA rate may vary based on the location and the type of job, and it is subject to change based on the economic conditions and other factors.
The government of India or the respective state governments will announce the official DA rate for January 2023 in the coming Month. Employees should check with their employer or the relevant government agencies for the most up-to-date information on the DA rates. DA is typically paid to government employees, as well as employees of public sector and some private sector organizations.
It is intended to help employees maintain their purchasing power and standard of living despite the rising cost of living. DA is usually reviewed and revised every six months, based on the CPI data. Here is Expected Dearness Allowance Calculator is a tool to calculate the Dearness Allowance approximately on January 2023.
- The expected dearness allowance (DA) calculator is a tool that allows employees to estimate the DA rate for a particular month based on the current Consumer Price Index (CPI) data and other economic indicators.
- To use the calculator, employees will need to input the current CPI data for the month, as well as any other relevant information such as their location and the type of job they have.
The calculator will then use this information to calculate the estimated DA rate for the month. It is important to note that the actual DA rate may vary based on the economic conditions and other factors, and the calculator is only intended to provide an approximate estimate.
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How much DA is expected from january 2023 in india?
The dearness allowance for employees and pensioners is decided on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month. – The central government is likely to raise dearness allowance (DA) for its over one crore employees and pensioners by four percentage points to 42 per cent from the existing 38 per cent as per the agreed formula for the purpose, news agency PTI reported on Sunday.
The dearness allowance for employees and pensioners is decided on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month. The Labour Bureau is a wing of the Labour Ministry. Speaking to PTI, Shiva Gopal Mishra, General Secretary, All India Railwaymen Federation, said, “The CPI-IW for December 2022 was released on January 31, 2023.
The dearness allowance hike works out to be 4.23 per cent. But the government does not factor in hiking DA beyond decimal point. Thus, DA is likely to be increased by four percentage points to 42 per cent.” He further explained that the expenditure department of the Finance Ministry will formulate a proposal to hike DA along with its revenue implication and will put up the proposal before the Union Cabinet for approval.
The DA hike will be effective from January 1, 2023. The last revision in DA was done on September 28, 2022. The Centre had increased DA by four percentage points to 38 per cent based on the percentage increase in 12 monthly averages of the All India Consumer Price Index for the period ending June 2022.
What is Dearness Allowance Dearness Allowance is a component of the salary of government employees and pensioners that is aimed at compensating them for the increase in the cost of living as a result of inflation. The allowance is revised periodically twice a year – in January and July.
What is the DA for bankers from May 2023?
Expected DA for Bank Employees from August 2023 – The Dearness Allowance (DA) for bankers for the period from August 2023 shall be based on CPI(IW) numbers from April 2023 to June 2023. The latest CPI(IW) data with the base year 2016 is as under.
| Month | AICPIN/CPI(IW) |
| April 2023 | 134.20 |
| May 2023 | 134.70 |
| June 2023 | 136.40 |
Based on above, the DA to bank employees shall be payable for 632 DA slabs as against the existing 596 DA slabs i.e. an increase of 36 DA slabs. The Expected DA for bank employees from August 2023 is 44.24%. The existing DA rate for the period of May 2023 to July 2023 is 41.72%. Expected increase in DA and salary at various scales
| Subordinate Staff | ||||
|---|---|---|---|---|
| Basic Pay | Existing DA | Expected DA | Increase in Other allowances | Increase in salary |
| 14500 | 6049.40 | 6414.80 | 75.05 | 440.45 |
| 15000 | 6258.00 | 6636.00 | 77.11 | 455.11 |
| 15500 | 6466.60 | 6857.20 | 79.18 | 469.78 |
| 16000 | 6675.20 | 7078.40 | 81.24 | 484.44 |
| 16500 | 6883.80 | 7299.60 | 83.31 | 499.11 |
| 17115 | 7140.38 | 7571.68 | 85.85 | 517.15 |
| 17730 | 7396.96 | 7843.75 | 88.39 | 535.19 |
| 18345 | 7653.53 | 8115.83 | 90.94 | 553.23 |
| 18960 | 7910.11 | 8387.90 | 93.48 | 571.27 |
| 19575 | 8166.69 | 8659.98 | 96.02 | 589.31 |
| 20315 | 8475.42 | 8987.36 | 99.08 | 611.02 |
| 21055 | 8784.15 | 9314.73 | 102.14 | 632.72 |
| 21795 | 9092.87 | 9642.11 | 105.19 | 654.43 |
| 22535 | 9401.60 | 9969.48 | 108.25 | 676.13 |
| 23405 | 9764.57 | 10354.37 | 111.85 | 701.65 |
| 24275 | 10127.53 | 10739.26 | 115.44 | 727.17 |
| 25145 | 10490.49 | 11124.15 | 119.04 | 752.69 |
| 26145 | 10907.69 | 11566.55 | 123.17 | 782.03 |
| 27145 | 11324.89 | 12008.95 | 127.30 | 811.36 |
| 28145 | 11742.09 | 12451.35 | 131.44 | 840.69 |
| 29145 | 12159.29 | 12893.75 | 135.57 | 870.02 |
| 30145 | 12576.49 | 13336.15 | 139.70 | 899.36 |
| 31145 | 12993.69 | 13778.55 | 143.84 | 928.69 |
| 32145 | 13410.89 | 14220.95 | 147.97 | 958.02 |
| 33145 | 13828.09 | 14663.35 | 152.10 | 987.36 |
| 34145 | 14245.29 | 15105.75 | 156.23 | 1016.69 |
| 35145 | 14662.49 | 15548.15 | 160.37 | 1046.02 |
| 36145 | 15079.69 | 15990.55 | 164.50 | 1075.35 |
| 37145 | 15496.89 | 16432.95 | 168.63 | 1104.69 |
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Dearness Relief (DR) to bank pensioner from August 2023 to January 2024 The Dearness Relief (DR) to bank pensioners is revised twice a year on the basis of the CPI (IW) declared by the Labor Bureau of India. The latest CPI (IW) numbers released for the month of April 2023 and May 2023 & June 2023, by the Labor Bureau of India, are 134.20, 134.70 & 136.40 respectively.
| Pensioner Retired on or after 01.11.2017 | |||||||
|---|---|---|---|---|---|---|---|
| CPI(IW)/AICPIN | Expected Slabs | Existing Slabs | Expected DA (%) | Existing DA(%) | Expected Increase in Slabs | Expected Increase in DA(%) | |
| Apr-23 | 134.2 | 632 | 588 | 44.24 | 41.16 | 44 | 3.08 |
| May-23 | 134.7 | ||||||
| Jun-23 | 136.4 | ||||||
| Pensioner Retired between 01.11.2012 to 31.10.2017 | |||||||
| CPI(IW)/AICPIN | Expected Slabs | Existing Slabs | Expected DA (%) | Existing DA(%) | Expected Increase in Slabs | Expected Increase in DA(%) | |
| Apr-23 | 134.2 | 1110 | 1066 | 111 | 106.6 | 44 | 4.4 |
| May-23 | 134.7 | ||||||
| Jun-23 | 136.4 | ||||||
| Pensioner Retired between 01.11.2007 to 31.10.2012 | |||||||
| CPI(IW)/AICPIN | Expected Slabs | Existing Slabs | Expected DA (%) | Existing DA(%) | Expected Increase in Slabs | Expected Increase in DA(%) | |
| Apr-23 | 134.2 | 1511 | 1467 | 226.65 | 220.05 | 44 | 6.6 |
| May-23 | 134.7 | ||||||
| Jun-23 | 136.4 | ||||||
| Pensioner Retired between 01.11.2002 to 31.10.2007 | |||||||
| CPI(IW)/AICPIN | Expected Slabs | Existing Slabs | Expected DA (%) | Existing DA(%) | Expected Increase in Slabs | Expected Increase in DA(%) | |
| Apr-23 | 134.2 | 1648 | 1604 | 296.64 | 288.72 | 44 | 7.92 |
| May-23 | 134.7 | ||||||
| Jun-23 | 136.4 |
How many days in january 2023?
For a printable January 2023 calendar simply choose one of the templates below. Because everyone has different needs, we offer a wide variety of monthly calendars making it easy to see upcoming holidays, remember significant dates like anniversaries or birthdays and add notes to special events.
January 2023 Calendar January Calendar 2023 Calendar January 2023 January 2023 Calendar Printable Calendar 2023 January 2023 January Calendar January 2023 Printable Calendar Printable January 2023 Calendar January 2023 Calendar With Holidays
| Sun | Mon | Tue | Wed | Thu | Fri | Sat |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| 8 | 9 | 10 | 11 | 12 | 13 | 14 |
| 15 | 16 | 17 | 18 | 19 | 20 | 21 |
| 22 | 23 | 24 | 25 | 26 | 27 | 28 |
| 29 | 30 | 31 | ||||
Will there be 8th pay commission in India?
8th Pay Commission Date – Indian Central and State Government employees, along with pensioners and family pensioners, are looking forward to the announcement of the 8th Central Pay Commission. It is anticipated that the commission may be announced before the general election in 2024, with implementation expected on January 1st, 2026.
What is the budget of MP Finance?
Madhya Pradesh Budget Analysis 2023-24 The Finance Minister of Madhya Pradesh, Mr. Jagdish Devda, presented the Budget for the state for the financial year 2023-24 on March 1, 2023. Budget Highlights
- The Gross State Domestic Product (GSDP) of Madhya Pradesh for 2023-24 (at current prices) is projected to be Rs 13,87,117 crore. This is a growth of 5% over the revised estimate of GSDP for 2023-24 (Rs 13,22,821 crore).
- Expenditure (excluding debt repayment) in 2023-24 is estimated to be Rs 2,81,552 crore, a 12% increase over the revised estimates of 2022-23. In addition, debt of Rs 24,551 crore will be repaid by the state.
- Receipts (excluding borrowings) for 2023-24 are estimated to be Rs 2,25,843 crore, an increase of 11% as compared to the revised estimate of 2022-23. In 2022-23, receipts (excluding borrowings) are estimated to Rs 8,804 crore higher than the budget estimate (increase of 4.5%).
- Revenue surplus for 2023-24 is estimated to be Rs 413 crore, which is 0.03% of the GSDP. In 2022-23, revenue surplus is estimated to be 0.11% of GSDP. The budget for 2022-23 had estimated a revenue deficit of 0.32% of GSDP.
- Fiscal deficit for 2023-24 is targeted at Rs 55,708 crore (4% of GSDP). In 2022-23, as per the revised estimates, fiscal deficit is expected to be 3.6% of GSDP, lower than the budget estimate of 4.6% of GSDP.
Policy Highlights
- Food subsidy scheme: Under the new scheme, Rs 1,000 will be transferred to the bank accounts of women belonging to backward tribes (Baiga, Bariya, and Sahariya) in order to address malnutrition.
- Skill Development: The Chief Minister Skill Apprenticeship Scheme will be formulated to provide skill development to the youth.
- Electricity: In order to ensure an uninterrupted supply of electricity, the state will create additional infrastructure in 2023-24, which includes 970 circuit km of transmission lines, six sub-stations, and 349 km of distribution lines.
- Chief Minister’s Balika Scooty Scheme: Under the new scheme, e-scooters will be distributed to female students who attain the highest marks at the higher secondary level.
Madhya Pradesh’s Economy
|
Figure 1 : Growth in GSDP and sectors in Madhya Pradesh at constant prices (2011-12) Note: These numbers are as per constant prices (2011-12) which implies that the growth rate is adjusted for inflation. Sources: Ministry of Statistics & Programme Implementation; PRS. |
Budget Estimates for 2023-24
- Total expenditure (excluding debt repayment) in 2023-24 is targeted at Rs 2,81,552 crore. This is an increase of 12% over the revised estimate of 2022-23. This expenditure is proposed to be met through receipts (other than borrowings) of Rs 2,25,843 crore and net borrowings of Rs 55,549 crore, Total receipts for 2023-24 (other than borrowings) are expected to register an increase of 11% over the revised estimate of 2022-23.
- Revenue surplus in 2023-24 is estimated to be 0.03% of GSDP (Rs 413 crore). The 2022-23 budget estimated a revenue deficit of Rs 3,736 crore (0.3% of GSDP), but as per the revised estimates, the state will observe a revenue surplus of Rs 1,499 crore (0.1% of GSDP). Fiscal deficit for 2023-24 is estimated to be 4% of GSDP (Rs 55,708 crore). As per the revised estimates, in 2022-23, the fiscal deficit of the state is expected to be 3.6% of GSDP, which is lower than the budget estimate of 4.6%.
Table 1 : Budget 2023-24 – Key figures (in Rs crore)
| Items | 2021-22 Actuals | 2022-23 BE | 2022-23 RE | % change from BE 22-23 to RE 22-23 | 2023-24 BE | % change from RE 22-23 to BE 23-24 |
| Total Expenditure | 2,40,186 | 2,71,830 | 2,72,725 | 0.3% | 3,06,103 | 12.2% |
| (-) Repayment of debt | 15,162 | 24,114 | 21,378 | -11.3% | 24,551 | 14.8% |
| Net Expenditure (E) | 2,25,023 | 2,47,715 | 2,51,347 | 1.5% | 2,81,552 | 12.0% |
| Total Receipts | 2,33,821 | 2,71,148 | 2,74,200 | 1.1% | 3,05,944 | 11.6% |
| (-) Borrowings | 46,285 | 75,943 | 70,192 | -7.6% | 80,100 | 14.1% |
| Net Receipts (R) | 1,87,536 | 1,95,204 | 2,04,008 | 4.5% | 2,25,843 | 10.7% |
| Fiscal Deficit (E-R) | 37,487 | 52,511 | 47,339 | -9.8% | 55,708 | 17.7% |
| as % of GSDP | 3.3% | 4.6% | 3.6% | 4.0% | ||
| Revenue Balance | 4,815 | -3,736 | 1,499 | – | 413 | -72.5% |
| as % of GSDP | 0.42% | -0.32% | 0.11% | 0.03% | ||
| Primary Balance | 19,041 | 30,345 | 26,703 | -12.0% | 33,088 | 23.9% |
| as % of GSDP | 1.68% | 2.64% | 2.02% | 2.4% |
Note: BE is Budget Estimates; RE is Revised Estimates.2021-22 figures for fiscal deficit and primary deficit will not match with the Budget at a Glance (BAG) as transfer to contingency fund worth Rs 500 crore has been excluded. Fiscal deficit as % of GSDP for 2022-23 revised does not match the BAG by 0.2% point due to differences in GSDP numbers.
- Revenue expenditure for 2023-24 is proposed to be Rs 2,25,297 crore, which is an 11% increase over the revised estimate of 2022-23. This expenditure includes the payment of salaries, pensions, interest, and subsidies.
- Capital outlay for 2023-24 is estimated to be Rs 54,056 crore, an increase of 19% over the revised estimate of 2022-23. Capital outlay indicates the expenditure towards creation of assets.
| Rising Committed Expenditure Committed expenditure of a state typically includes expenditure on payment of salaries, pensions, and interest. From 2016-17 to 2021-22, committed expenditure for Madhya Pradesh has increased from 32% of revenue receipts to 42%. Pension expenditure is also projected to rise from Rs 23,011 crore in 2023-24 to Rs 69,062 crore in 2030-31. Increased spending on committed expenditure leaves less flexibility for developmental expenditure. | Source: CAG Report No.4 of 2022 |
Table 2 : Expenditure budget 2023-24 (in Rs crore)
| Items | 2021-22 Actuals | 2022-23 BE | 2022-23 RE | % change from BE 22-23 to RE 22-23 | 2023-24 BE | % change from RE 22-23 to BE 23-24 |
| Revenue Expenditure | 1,81,061 | 1,98,916 | 2,02,468 | 2% | 2,25,297 | 11% |
| Capital Outlay | 40,733 | 45,686 | 45,469 | 0% | 54,056 | 19% |
| Loans given by the state | 3,229 | 3,114 | 3,410 | 10% | 2,198 | -36% |
| Net Expenditure | 2,25,023 | 2,47,715 | 2,51,347 | 1% | 2,81,552 | 12% |
Sources: Madhya Pradesh Budget Documents 2023-24; PRS. Committed expenditure: Committed expenditure of a state typically includes expenditure on payment of salaries, pensions, and interest. A larger proportion of budget allocated for committed expenditure items limits the state’s flexibility to decide on other expenditure priorities such as capital outlay.
In 2023-24, Madhya Pradesh is estimated to spend Rs 1,07,313 crore on committed expenditure, which is 48% of its revenue receipts. This is an increase of 14% over the revised estimate of 2022-23. This comprises spending on salaries (27% of revenue receipts), pension (10%), and interest payments (10%).
In 2023-24, payments towards salaries are estimated to increase by 18% over the revised estimates of 2022-23. Table 3 : Committed Expenditure in 2023-24 (in Rs crore)
| Items | 2021-22 Actuals | 2022-23 BE | 2022-23 RE | % change from BE 22-23 to RE 22-23 | 2023-24 BE | % change from RE 22-23 to BE 23-24 |
| Salaries | 42,670 | 54,101 | 52,367 | -3% | 61,682 | 18% |
| Pensions | 17,042 | 19,360 | 21,340 | 10% | 23,011 | 8% |
| Interest Payment | 18,446 | 22,166 | 20,636 | -7% | 22,620 | 10% |
| Total Committed Expenditure | 78,158 | 95,627 | 94,342 | -1% | 1,07,313 | 14% |
Sources: Madhya Pradesh Budget Documents 2023-24; PRS. Sector-wise expenditure: The sectors listed below account for 63% of the total expenditure on sectors by the state in 2023-24. A comparison of Madhya Pradesh’s expenditure on key sectors with that by other states is shown in Annexure 1. Table 4 : Sector-wise expenditure under Madhya Pradesh Budget 2023-24 (in Rs crore)
| Sectors | 2021-22 Actuals | 2022-23 BE | 2022-23 RE | 2023-24 BE | % change from RE 22-23 to BE 23-24 | Budget Provisions (2023-24) |
| Education, Sports, Arts, and Culture | 30,998 | 39,326 | 37,599 | 44,949 | 20% | Rs 22,359 crore has been allocated for state primary schools. |
| Energy | 24,436 | 21,816 | 23,040 | 25,276 | 10% | Rs 9,246 crore has been allocated for assistance to electricity boards. Rs 7,824 crore has been allocated for investments in public sector undertakings. |
| Social Welfare and Nutrition | 11,476 | 11,730 | 11,247 | 20,977 | 87% | Rs 9,553 crore has been allocated for women welfare. |
| Agriculture and Allied Activities | 17,149 | 16,784 | 16,030 | 17,938 | 12% | Rs 2,001 crore has been allocated towards PM-Fasal Bima Yojana. |
| Health and Family Welfare | 12,669 | 13,903 | 13,687 | 16,299 | 19% | Rs 6,585 crore has been allocated for hospitals and dispensaries. |
| Rural Development | 12,448 | 14,313 | 13,891 | 12,528 | -10% | Rs 5,261 crore has been allocated for assistance to gram panchayats. |
| Irrigation and Flood Control | 11,136 | 8,438 | 12,879 | 10,268 | -20% | Rs 8,529 crore has been allocated for capital outlay on irrigation and flood control. |
| Water Supply and Sanitation | 10,211 | 8,657 | 7,967 | 9,995 | 25% | Rs 300 crore has been allocated as assistance to Gram Panchayats. |
| Police | 6,973 | 8,813 | 8,597 | 9,507 | 11% | Rs 5,451 crore has been allocated towards district police. |
| Transport | 8,518 | 7,299 | 8,261 | 8,848 | 7% | Rs 8,603 crore has been allocated towards roads and bridges. |
| % of total expenditure on all sectors | 66% | 62% | 62% | 63% | 2% |
Sources: Madhya Pradesh Budget Documents 2023-24; PRS. Receipt s in 2023-24
- Total revenue receipts for 2023-24 are estimated to be Rs 2,25,710 crore, an increase of 11% over the revised estimate of 2022-23. Of this, Rs 1,01,413 crore (45%) will be raised by the state through its own resources, and Rs 1,24,297 crore (55%) will come from the centre. Resources from the centre will be in the form of state’s share in central taxes (36% of revenue receipts) and grants (20% of revenue receipts).
- Devolution: In 2023-24, receipts from the state’s share in central taxes are estimated to increase by 8% over the revised estimate of 2022-23.
- Grants from the centre in 2023-24 is estimated at Rs 44,113 crore, an increase of 18% over the revised estimates for 2022-23 (Rs 37,488 crore). In 2022-23, grants from the centre are estimated to be 16% lower than the budget estimate. This could be due to the discontinuation of GST compensation grants in June 2022. GST compensation grants received by the state is estimated to decrease by 86% between the budget and revised estimates of 2022-23.
- State’s own tax revenue: Total own tax revenue of Madhya Pradesh is estimated to be Rs 86,500 crore in 2023-24, an increase of 11% over the revised estimate of 2022-23. In 2023-24, the state’s own tax to GSDP ratio is estimated to be 6.2%. In 2022-23, this ratio is estimated to be 5.9% which is lower than the budget estimate (6.3%).
Table 5 : Break-up of the state government’s receipts (in Rs crore)
| Sources | 2021-22 Actuals | 2022-23 BE | 2022-23 RE | % change from BE 22-23 to RE 22-23 | 2023-24 BE | % change from RE 22-23 to BE 23-24 |
| State’s Own Tax | 66,308 | 72,860 | 78,137 | 7% | 86,500 | 11% |
| State’s Own Non-Tax | 15,305 | 13,618 | 13,799 | 1% | 14,913 | 8% |
| Share in Central Taxes | 69,470 | 64,107 | 74,543 | 16% | 80,184 | 8% |
| Grants-in-aid from Centre | 34,792 | 44,595 | 37,488 | -16% | 44,113 | 18% |
| Revenue Receipts | 1,85,876 | 1,95,180 | 2,03,967 | 5% | 2,25,710 | 11% |
| Non-debt Capital Receipts | 1,660 | 24 | 41 | 67% | 134 | 227% |
| Net Receipts | 1,87,536 | 1,95,204 | 2,04,008 | 5% | 2,25,843 | 11% |
Note: BE is Budget Estimates; RE is Revised Estimates. Sources: Madhya Pradesh Budget Documents 2023-24; PRS.
- In 2023-24, state GST is estimated to be the largest source of own tax revenue (37% share), followed by sales tax/VAT (23%), and state excise (16%). State GST revenue is estimated to increase by 14% over the revised estimates of 2022-23. In 2022-23, the receipt on this account is expected to be 12% higher than budgeted.
- In 2022-23, tax revenue from land revenue is estimated to be 9% lower than the budget estimate, and revenue from state excise is estimated to be 3% lower. Similarly, actual land revenue collected in 2021-22 is 14% less than the budget estimate, and actual state excise revenue is 15% less (see Annexure 2).
Table 6 : Major sources of state’s own-tax revenue (in Rs crore)
| Tax Source | 2021-22 Actuals | 2022-23 BE | 2022-23 RE | % change from BE 22-23 to RE 22-23 | 2023-24 BE | % change from RE 22-23 to BE 23-24 |
| State GST | 22,029 | 25,000 | 28,000 | 12% | 32,000 | 14% |
| Sales Tax/ VAT | 16,185 | 16,968 | 18,064 | 6% | 19,514 | 8% |
| Stamps Duty and Registration Fees | 8,098 | 8,200 | 9,200 | 12% | 10,400 | 13% |
| Taxes on Vehicles | 3,029 | 3,700 | 4,000 | 8% | 4,440 | 11% |
| State Excise | 10,334 | 13,255 | 12,918 | -3% | 13,845 | 7% |
| Land Revenue | 733 | 1,241 | 1,134 | -9% | 1,200 | 6% |
| Taxes and Duties on Electricity | 4,582 | 3,364 | 3,599 | 7% | 3,858 | 7% |
| GST Compensation Grants | 3,095 | 5,000 | 722 | -86% | 4,190 | 480% |
| GST Compensation Loans | 7,011 | 0 | 0 | – | 0 | – |
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Revenue surplus : Revenue balance is the difference of revenue expenditure and revenue receipts. A revenue surplus implies that the government’s recurring expenses, which do not increase its assets or reduces its liabilities, can be financed through its receipts.
The budget estimates a revenue surplus of Rs 413 crore in 2023-24 (0.03% of GSDP). The state had observed a revenue surplus from 2016-17 to 2018-19. However, from 2019-2020 to 2020-21, a revenue deficit was recorded, due to the COVID-19 pandemic. A revenue surplus of Rs 1,499 crore is expected in 2022-23 as per revised estimates.
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 2023-24, the fiscal deficit is estimated to be Rs 55,708 crore (4% of GSDP).
This is higher than the 3.5% limit as per the FRBM Act. The budget for 2022-23 estimated fiscal deficit at 4.6% of GSDP, which was reduced to 3.6% at the revised stage. In absolute numbers, the revised estimate for fiscal deficit is 10% less than the budget estimate. This is because net receipts increased by 4.5% while net expenditure increased by 1.5% between the budget and revised estimates of 2022-23.
Outstanding liabilities : Outstanding liabilities is the accumulation of total borrowings at the end of a financial year, it also includes any liabilities on public account. In 2023-24, the outstanding liabilities is estimated to be 30% of the GSDP, marginally higher than the revised estimate for 2022-23 (29% of GSDP).
| Figure 3 : Revenue and Fiscal Balance (% of GSDP) Note: RE is Revised Estimates; BE is budget estimates. * indicates projections. Projections for revenue balance do not give exact values and only indicate that the state estimates a revenue surplus. Sources: Madhya Pradesh Budget Documents 2023-24 ; PRS. |
Figure 4 : Outstanding Liabilities (% of GSDP) Note: RE is Revised Estimates; BE is budget estimates. * indicates projections. Sources: Madhya Pradesh Budget Documents 2023-24; PRS. |
Outstanding Government Guarantees : Outstanding liabilities 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.
As on December 31, 2022, the total outstanding government guarantees amounted to Rs 39,775 crore. Of this, Rs 28,626 crore is payable to the food, civil supplies, and consumer protection department. Annexure 1: Comparison of states’ expenditure on key sectors The graphs below compare Madhya Pradesh’s expenditure 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 30 states (including Madhya Pradesh) as per their budget estimates of 2022-23.
- Education: Madhya Pradesh has allocated 16.1% of its total expenditure for education in 2023-24. This is higher than the average allocation (14.8%) for education by all states (2022-23 BE).
- Rural Development: Madhya Pradesh has allocated 4.5% of its expenditure on rural development. This is lower than the average allocation for rural development by states (5.7%).
- Agriculture: Madhya Pradesh has allocated 6.4% of its total expenditure on agriculture, which is more than the average allocation for agriculture by states (5.8%).
- Urban development: The state has allocated 2.6% of its total expenditure towards urban development. This is lower than the average allocation for urban development by states (3.5%).
- Energy: Madhya Pradesh has allocated 9% of its total expenditure on energy, which is significantly higher than the average expenditure on energy by states (4.8%).
- Roads and bridges: Madhya Pradesh has allocated 3.1% of its total expenditure on roads and bridges, which is lower than the average allocation by states (4.5%).
Note: 2021-22, 2022-23 (BE), 2022-23 (RE), and 2023-24 (BE) figures are for Madhya Pradesh. Sources: Madhya Pradesh Budget documents 2023-24; various state budgets; PRS. The 30 states include the Union Territory of Delhi and Union Territory of Jammu and Kashmir.
- Annexure 2: Comparison of 2021-22 Budget Estimates and Actuals
- The following tables compare the actuals of 2021-22 with budget estimates for that year.
- Table 7 : Overview of Receipts and Expenditure (in Rs crore)
| Particular | 2021-22 BE | 2021-22 Actuals | % change from BE to Actuals |
| Net Receipts (1+2) | 1,66,185 | 1,87,536 | 13% |
| 1. Revenue Receipts (a+b+c+d) | 1,64,677 | 1,85,876 | 13% |
| a. Own Tax Revenue | 64,914 | 66,308 | 2% |
| b. Own Non-Tax Revenue | 11,742 | 15,305 | 30% |
| c. Share in central taxes | 52,247 | 69,470 | 33% |
| d. Grants-in-aid from the Centre | 35,775 | 34,792 | -3% |
| Of which GST compensation grants | 5,322 | 3,095 | -42% |
| 2. Non-Debt Capital Receipts | 1,507 | 1,660 | 10% |
| 3. Borrowings | 67,258 | 46,285 | -31% |
| Of which GST compensation loan | 0 | 7,011 | – |
| Net Expenditure (4+5+6) | 2,16,623 | 2,25,023 | 4% |
| 4. Revenue Expenditure | 1,72,971 | 1,81,061 | 5% |
| 5. Capital Outlay | 40,667 | 40,733 | 0% |
| 6. Loans and Advances | 2,985 | 3,229 | 8% |
| 7. Debt Repayment | 17,794 | 15,162 | -15% |
| Revenue Balance | -8,294 | 4,815 | -158% |
| Revenue Balance (as % of GSDP)* | -0.7% | 0.4% | – |
| Fiscal Deficit | 50,938 | 37,487 | -26% |
| Fiscal Deficit (as % of GSDP) | 4.5% | 3.3% | – |
Note: *A negative revenue sign indicates a deficit, positive sign indicates a surplus. BE: Budget Estimates. Source: Madhya Pradesh Budget Documents of various years; PRS. Table 8 : Key Components of State’s Own Tax Revenue (in Rs crore)
| Tax Source | 2021-22 BE | 2021-22 Actuals | % change from BE to Actuals |
| State GST | 23,000 | 22,029 | -4% |
| Sales Tax/ VAT | 14,240 | 16,185 | 14% |
| Stamps Duty and Registration Fees | 6,495 | 8,098 | 25% |
| Taxes on Vehicles | 3,600 | 3,029 | -16% |
| State Excise | 12,109 | 10,334 | -15% |
| Land Revenue | 850 | 733 | -14% |
| Taxes and Duties on Electricity | 3,100 | 4,582 | 48% |
Source: Madhya Pradesh Budget Documents of various years; PRS. Table 9 : Allocation towards Key Sectors (in Rs crore)
| Sector | 2021-22 BE | 2021-22 Actuals | % change from BE to Actuals |
| Education, Sports, Arts, and Culture | 36,344 | 30,998 | -15% |
| Police | 8,062 | 6,973 | -14% |
| Welfare of SC, ST, OBC, and Minorities | 6,132 | 5,409 | -12% |
| Rural Development | 12,305 | 12,448 | 1% |
| Social Welfare and Nutrition | 10,892 | 11,476 | 5% |
| Urban Development | 6,212 | 6,560 | 6% |
| Agriculture and Allied Activities | 16,142 | 17,149 | 6% |
| Health and Family Welfare | 11,619 | 12,669 | 9% |
| Irrigation and Flood Control | 9,860 | 11,136 | 13% |
| Water Supply and Sanitation | 8,412 | 10,211 | 21% |
| Transport | 6,978 | 8,518 | 22% |
| of which Roads and Bridges | 6,957 | 8,506 | 22% |
| Energy | 16,745 | 24,436 | 46% |
| Housing | 3,181 | 6,159 | 94% |
Source: Madhya Pradesh Budget Documents of various years; PRS. DISCLAIMER: This document is being furnished to you for your information. You may choose to reproduce or redistribute this report for non-commercial purposes in part or in full to any other person with due acknowledgement of PRS Legislative Research (“PRS”).
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: Madhya Pradesh Budget Analysis 2023-24
Is my money safe in the bank 2023?
Is my money safe? – Yes, if your money is in a U.S. bank insured by the Federal Deposit Insurance Corp. and you have less than $250,000 there. If the bank fails, you’ll get your money back. Nearly all banks are FDIC insured. You can look for the FDIC logo at bank teller windows or on the entrance to your bank branch.
Credit unions are insured by the National Credit Union Administration, If you have over $250,000 in individual accounts at one bank, which most people don’t, the amount over $250,000 is considered uninsured and experts recommend that you move the remainder of your money to a different financial institution, said Caleb Silver, editor in chief of Investopedia, a financial media website.
Struggling banks create uncertainty for Wall Street 02:10 If you have multiple individual accounts at the same bank, for example a savings account and certificate of deposit, those are added together and the total is insured up to $250,000. (Read on for more about how joint accounts are protected.)
Bank woes mount as investors bail from regional lenders PacWest shares crumble as Wall Street shuns midsize banks First Republic Bank seized, sold to JPMorgan Chase
Federal officials have been taking steps to make sure other banks aren’t impacted. “People who have their money in insured accounts have nothing to worry about,” said Mark Hamrick, senior economic analyst at Bankrate.com. “Simply make sure that deposits fall within the guaranteed limits, whether it’s FDIC or the credit union equivalent.” Customers of banks that have been sold will have access to their money from the new owner, according to the FDIC.
What is the expected DA for bankers in February 2023?
DA for Bank Employees from Feb 2023 to Apr 2023, IBA Order – Central Government Employees News
HR & Industrial RelationsHR&IR/MBR/76/D/2023-24/11709February 1, 2023All Members of the Association(Designated Officers)Dear Sir/ Madam,
Dearness Allowance for Workmen and Officer Employees in banks for the months of February, March & April, 2023 under XI BPS/ 8th Joint Note dated 11.11.2020 The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended December 2022 are as follows:- October 2022 – 8710.36November 2022 – 8710.36 December 2022 – 8697.22 The average CPI of the above is 8705 and accordingly the number of DA slabs are 588 (8705-6352= 2353/4= 588 Slabs).
The last quarterly Payment of DA was at 556 Slabs. Hence, there is an increase in DA slabs of “32” i.e.588 Slabs for payment of DA for the quarter February, March & April, 2023. In terms of clause 7 of the 11th Bipartite Settlement dated 11.11.2020 and clause 3 of the Joint Note dated 11.11.2020. the rate of Dearness Allowance payable to Workmen and Officer employees for the months of February, March & April.2023 shall be 41.16% of ‘pay’.
While arriving at dearness allowance payable, decimals from third place may please be ignored. Yours faithfully, Brajeshwar SharmaSenior Advisor (HR&IR) Follow us on Channel, and for all the latest updates : DA for Bank Employees from Feb 2023 to Apr 2023, IBA Order – Central Government Employees News
What changes to banking 2023?
Behind-the-Scenes Grunt Work? There’s a Machine for That – Customers interfacing with digital tellers to submit loan applications through smart ATMs in branches with no human employees is just the most visible application for emerging technologies like AI and ML.
- But most of the work that banks will farm out to robots in the coming years won’t be nearly as dramatic or apparent to customers.
- AI- and ML-based tools can automate mundane tasks within banks, such as identifying account fraud and credit-risk analysis,” Solomon said.
- RPA will allow financial institutions to transfer data faster than ever before while reducing costs associated with manual labor.” It’s not that AI will replace humans in the banking industry.
Instead, it will free them up to focus on their human customers. “The future of banking will take shape by implementing a machine-learning platform that accelerates funding times, improves loan margins and reduces regulatory risk for banks, credit unions and fintech lenders,” said Will Robinson, CEO of, which provides machine-learning services for banks and lenders.
What is the DA for Nagaland pensioners?
Enhancement of rate of Dearness Relief to 38% from the existing 34% w.e.f.01.07.2022 to the Nagaland State Government Pensioners and family pensioners. Grant of enhanced rate of Dearness Relief @ 42% w.e.f.01.01.2023 to the Nagaland State Government Pensioners and family pensioners.
