The government?s assets are likely to increase 7.38% in 2008-09 to Rs 17,12,037 crore from Rs 15,85,544 crore in 2007-08. However, liabilities are set to go up by only 5.4% in 2008-09 to Rs 30,62,912 crore from Rs 28,97,037 crore.
Liabilities under National Small Savings Fund is estimated at Rs 50,7,939 crore in 2008-09, up from Rs 48,7,812 crore budgeted in 2007-08. Liabilities on account of State Provident Funds are estimated at Rs 81039 crore in the next financial year while in 2007-08, it is estimated at Rs 76239 crore.
The amounts outstanding both under internal and external debt reflect the liabilities of the government. However, in addition, the government is also liable to repay the outstandings against small savings schemes, provident fund, securities issued to IDBI, Unit Trust of India and nationalised banks and deposits under the special deposit scheme among others.
The government is liable to repay the outstandings against various small savings schemes and provident fund among others.
Guarantees have been given for the repayment of share capital, payment of minimum annual dividend and repayment of bonds/loans, debentures issued or for those raised by the statutory corporations and financial institutions. Guarantees have also been provided to the Reserve Bank of India, other banks, industrial financial institutions such as IFCI, IDBI, Life Insurance Corporation, Unit Trust of India for the repayment of principal and payment of interest, cash credit, facility, financing seasonal agricultural operations and for providing working capital in respect of companies, corporations, co-operative societies and co-operative banks.
That apart, guarantees have been provided in pursuance of agreements entered into by the government with international financial institutions, foreign lending agencies, foreign governments, contractors, consultants among others.