Centre's deficit for fiscal 2017-18 estimated at Rs5,91,663 cr
04 June 2018
The Government of India has received Rs15,51,004 crore by way of revenue (tax and non-tax) during the 2017-18 financial year while the expenditure incurred by it during the fiscal stood at Rs21,42,667 crore, showing a deficit of Rs5,91,663 crore as per provisional (unaudited) accounts of the Union of India for the financial year 2017-18.
The central government received Rs15,51,004 crore (95.57 per cent of corresponding revised estimates (RE of 2017-18) of total receipts during 2017-18. This comprises Rs12,42,662 crore tax revenue (net to centre), Rs1,92,523 crore of non-tax revenue and Rs1,15,819 crore of non-debt capital receipts.
Non-debt capital receipts consists of recovery of loans (Rs15,624 crore) and disinvestment of PSUs (Rs1,00,195 crore).
An amount of Rs6,73,005 crore has been transferred to state governments as devolution of share of taxes by the centre in this period, which is Rs65,005 crore higher than in the previous year.
Total expenditure incurred by the centre stood at Rs21,42,667 crore (96.61 per cent of corresponding RE of 2017-18), out of which Rs18,78,963 crore is on revenue account and Rs2,63,704 crore on capital account. Out of the total revenue expenditure Rs5,29,243 crore is on account of interest payments and Rs1,91,110 crore on account of major subsidies.
For the month of April 2018, the first month of the current fiscal, the union government has received Rs71,450 crore (3.93 per cent of corresponding BE 18-19 of total receipts) during April 2018, as per consolidated figures available. This comprises Rs57,533 crore tax revenue (net to the centre), Rs13,124 crore of non-tax revenue and Rs793 crore of non-debt capital receipts. Non-debt capital receipts consist of recovery of loans (Rs359 crore) and divestment of PSUs (Rs434 crore).
An amount of Rs55,789 crore has been transferred to state governments by way of devolution of share of taxes by the Government of India in this period. This is Rs7,611 crore higher than in the corresponding period of the previous financial year (2017-18).
Total Expenditure incurred by centre stood at Rs2,23,417 crore (9.15 per cent of corresponding BE 18-19), out of which Rs1,76,714 crore is on revenue account and Rs46,703 crore on capital account. Out of the total revenue expenditure Rs15,618 crore is on account of interest payments and Rs58,136 crore is on account of major subsidies.