Besides, Rs 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 Rs 11,003 crore lower than the previous year, the statement added.
The Government’s total receipts during April-January period of current fiscal stood at Rs 12.82 lakh crore, while total expenditure for the said period was Rs 22.68 lakh crore. The Government of India has received Rs 12,82,857 crore up to January 2020, 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, the statement added.
Besides, Rs 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 Rs 11,003 crore lower than the previous year, the statement added.
Under tax devolution, the share in central taxes is distributed among states based on a formula.
Meanwhile, total expenditure incurred by the central government stood at Rs 22,68,329 crore out 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 is on account of major subsidies.
India’s fiscal deficit in the first 10 months through January stood at Rs 9.85 lakh crore or 128.5 per cent of the revised budgeted target for the current fiscal year, according to government data released on Friday.
Earlier this month, Finance Minister Nirmala Sitharaman had raised fiscal deficit target to 3.8 per cent of the GDP from 3.3 per cent pegged earlier for 2019-20 due to shortfall in revenue collection.