Government revenues: Q1 data raises fears of huge slippage

The Centre’s net tax receipts (NTR) in Q1 were just 14.7% of the FY20 target (BE), with annual growth of a mere 6%. This is even as annual NTR growth required to meet the BE is a daunting 29.5%.

It may be noted that despite Q1 NTR last year being 16% of the respective BE (with a y-o-y growth of 34%), the year ended with an over 11% shortfall under this head, necessitating a savage spending cut to avoid a big fiscal slippage.