Govt’s Total Receipts In April-January At Rs 12.82 Lakh Crore

The Government's total receipts during April 2019-January 2020 period stood at Rs 12.82 lakh crore, while total expenditure for the said period was Rs 22.68 lakh crore, an official statement said.

Tax revenue stood at Rs 9,98,037 crore, while non-tax revenue stood at Rs 2,52,083 crore. Non-debt capital receipts stood at Rs 32,737 crore, which includes Rs 18,351 crore of disinvestment proceeds, according to the statement.

A total of Rs 5,30,735 crore has been transferred to state governments as 'Devolution of Share of Taxes' by the centre during the period which is RS 11,003 crore lower than the previous year.

Under tax devolution, the share in central taxes is distributed among states based on a formula.

Meanwhile, the total expenditure incurred by the central government stood at Rs 22,68,329 crore 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 on account of major subsidies.

India's fiscal deficit in the first 10 months of the current financial year stood at Rs 9.85 lakh crore or 128.5 percent of the revised budgeted target.

Earlier this month, Finance Minister Nirmala Sitharaman had raised fiscal deficit target to 3.8 percent of the GDP for FY20 from 3.3 percent pegged earlier due to shortfall in revenue collection.