New Delhi [India], Feb. 28 (ANI): The Monthly account of the government of India up to February 2018 was compiled on Wednesday, which recorded a higher transfer of central taxes to the state governments as compared to the corresponding period the last year.
The government of India has received Rs.11,63,386 crore (71.7 percent of corresponding RE 17-18 of total receipts) up to January 2018 comprising Rs. 9,71,323 crore tax revenue (net to centre), Rs. 1,24,364 crore of non-tax revenue and Rs. 67,699 crore of non-debt capital receipts.
Further, non-debt capital receipts consist of recovery of loans, amounting to Rs. 12,156 crore and disinvestment of Public Sector Units (PSUs), amounting to Rs. 55,543 crore.
The state governments witnessed a higher devolution of taxes as Rs. 4,81,477 crore has been transferred to the former by the central government which is Rs. 58,631 crore higher than the corresponding period of the last year 2016-17.
Total expenditure incurred by the government of India is Rs. 18,39,945 crore which is 83 percent of corresponding revenue expenditure for 17-18.
Out of that, Rs. 15,75,780 crores are spent on revenue account and Rs. 2,64,165 on the capital account.
Further, out of the total revenue expenditure Rs. 4,14,238 crore is on account of interest payments and Rs. 2,18,581 is on account of major subsidies. (ANI)