The government’s total receipts during the April-January period of the current fiscal stood at ₹12.82 lakh crore, while total expenditure for the same period was ₹22.68 lakh crore.
The Centre had received ₹12,82,857 crore up to January 2020, an official statement said. Tax revenue stood at ₹9,98,037 crore, while non-tax revenue stood at ₹2,52,083 crore. Non-debt capital receipts stood at ₹32,737 crore, which included ₹18,351 crore of disinvestment proceeds, a statement said.
Besides, ₹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 ₹11,003 crore lower than the previous year, it added.
Under tax devolution, the share in central taxes is distributed among States based on a formula. Meanwhile, the total expenditure incurred by the Centre stood at ₹22,68,329 crore, out of which ₹20,00,595 crore is on the revenue account and ₹2,67,734 crore is on the capital account.
Out of the total revenue expenditure, over ₹4.71 lakh crore is on account of interest payments and over ₹2.62 lakh crore is on account of major subsidies.
India’s fiscal deficit in the first 10 months through January stood at ₹9.85 lakh crore or 128.5% of the revised budgeted target for the current fiscal year, according to government data released on Friday.
In the Budget announcement, Finance Minister Nirmala Sitharaman had raised the fiscal deficit target to 3.8% of the GDP from the 3.3% pegged earlier for 2019-20, due to a shortfall in revenue collection.
