The Government of India has received Rs 24,55,706 crore (101% of corresponding RE 2022-23 of Total Receipts) during 2022-23 comprising Rs 20,97,368 crore Tax Revenue (Net to Centre), Rs 2,86,151 crore of Non-Tax Revenue and Rs 72,187 crore of Non-Debt Capital Receipts. Non-Debt Capital Receipts consists of Recovery of Loans (Rs 26,152 crore) and Miscellaneous Capital Receipts (₹46,035 crore). Rs 9,48,406 crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India upto this period which is Rs 50,015 crore higher than the previous year.

Total Expenditure incurred by Government of India is Rs 41,88,837 crore (100% of corresponding RE 22-23), out of which Rs 34,52,518 crore is on Revenue Account and Rs 7,36,319 crore is on Capital Account. Out of the Total Revenue Expenditure, Rs 9,28,424 crore is on account of Interest Payments and Rs 5,30,959 crore is on account of Major Subsidies.

India's fiscal deficit came in at Rs 1733131 crore or 6.4% of the gross domestic product for the last financial year compared to 6.7% in previous fiscal year.

Powered by Capital Market - Live News