Centre receives 51% of annual revenue estimate by September, spending at 43.8%
The Government of India has released its monthly account summary for the financial year 2024-25 up to September, showing a total receipt of Rs 16.37 lakh crore, representing 51 per cent of the Budget Estimates (BE) for the year.
ANI
Oct 30, 2024 19:32 IST
New Delhi [India], October 30 (ANI): The Government of India has released its monthly account summary for the financial year 2024-25 up to September, reporting a total receipt of Rs 16.37 lakh crore, amounting to 51 per cent of the Budget Estimates (BE) for the year.
Of this amount, tax revenue (net to the Centre) accounted for Rs 12.65 lakh crore, with an additional Rs 3.57 lakh crore from non-tax revenue and Rs 14,601 crore from non-debt capital receipts. The Centre transferred Rs 5.45 lakh crore to state governments as their share of taxes, marking an increase of Rs 89,359 crore over the previous year.
The report further indicated that total government expenditure has reached Rs 21.11 lakh crore, approximately 43.8 per cent of the year's BE. Of this, Rs 16.97 lakh crore was spent on revenue accounts, while capital expenditure totalled Rs 4.15 lakh crore. Key revenue outflows included Rs 5.15 lakh crore for interest payments and Rs 2.15 lakh crore for major subsidies.
The data offers insight into the government's fiscal performance, indicating steady revenue inflows and expenditure as it progresses through the fiscal year.
In the previous month, the central government received Rs 12.17 lakh crore (38.0 per cent of the corresponding BE 2024-25 of total receipts up to August 2024), comprising Rs 8.73 lakh crore in tax revenue (net to the Centre), Rs 3.34 lakh crore in non-tax revenue, and Rs 8,866 crore in non-debt capital receipts.
The Centre transferred Rs 4.55 lakh crore to state governments as the devolution of share of taxes by the Government of India up to this period, which was Rs 73,235 crore higher than the previous year.
Total expenditure incurred by the Government of India stood at Rs 16.52 lakh crore (34.3 per cent of the corresponding BE 2024-25), of which Rs 13.51 lakh crore was on revenue accounts and Rs 3.00 lakh crore on capital accounts. Of the total revenue expenditure, Rs 4.00 lakh crore was allocated for interest payments, and Rs 1.78 lakh crore for major subsidies. (ANI)
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