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India reveals its fiscal health till February; details inside

BNE News Desk


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New Delhi: The Indian government on Saturday disclosed its fiscal data, showcasing the nation's financial performance up to February 2024. According to the report, total receipts amount to Rs 22,45,922 crore, equivalent to 81.5% of the corresponding revised estimates (RE) for the fiscal year 2023–24.

Tax revenue stood at Rs 18,49,452 crore, while non-tax revenue contributed Rs 3,60,330 crore. Moreover, non-debt capital receipts, including the recovery of loans amounting to Rs 23,480 crore and miscellaneous capital receipts totaling Rs 12,660 crore, further bolster the financial inflow. Noteworthy is the significant transfer of Rs 10,33,433 crore to state governments as part of the delegation of shares of taxes, marking a substantial increase compared to the previous year.

On the expenditure front, the government . has disbursed Rs 37,47,287 crore, representing 83.4% of the corresponding revised estimates for the fiscal year 2023–24. This allocation includes Rs 29,41,674 crore directed towards revenue account expenditure and Rs 8,05,613 crore designated for capital account expenditure.

Breaking down the revenue expenditure, a considerable sum of Rs 8,80,788 crore has been allocated to interest payments, while major subsidies account for Rs 3,60,997 crore.

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BNE News Desk