Government’s Total Receipts At Rs 12.82 Lakh Crore In April-January
The Government’s total receipts during April-January period of current fiscal stood at Rs 12.82 lakh crore.
India’s total receipts between April 2019 and January 2020 stood at Rs 12.82 lakh crore, while total expenditure for the said period was Rs 22.68 lakh crore.
The government has received Rs 12,82,857 crore up to January 2020, according to an official statement.
Tax revenue stood at Rs 9,98,037 crore, while non-tax revenue was Rs 2,52,083 crore. Non-debt capital receipts stood at Rs 32,737 crore, which includes Rs 18,351 crore of disinvestment proceeds, the statement said.
Besides, Rs 5,30,735 crore has been transferred to state governments as ‘Devolution of Share of Taxes’ by the centre in the period under consideration, which is Rs 11,003 crore lower than the previous year, the statement said.
Under tax devolution, the share in central taxes is distributed among states based on a formula.
Meanwhile, total expenditure incurred by the central government stood at Rs 22,68,329 crore out of which Rs 20,00,595 crore is on revenue account and Rs 2,67,734 crore is on capital account.
Out of the total revenue expenditure, over Rs 4.71 lakh crore is on account of interest payments and over Rs 2.62 lakh crore is on account of major subsidies.
India’s fiscal deficit in the 10 months through January 2020 stood at Rs 9.85 lakh crore, or 128.5 percent of the revised budgeted target for the current fiscal year, according to government data released on Friday.
Earlier this month, Finance Minister Nirmala Sitharaman had raised the fiscal deficit target to 3.8 percent of the GDP from 3.3 percent pegged earlier for 2019-20 due to shortfall in revenue collection.