India's April-June fiscal deficit was reported at Rs 4.29 lakh crore, or 68.7% of the full-year Budget Estimate (BE) of Rs 6.24 lakh crore, Finance Ministry data showed. The deficit was at 80.8% of BE in the April-June quarter of last fiscal. April-June revenue deficit came in at Rs 3.52 lakh crore or 85% of full year estimate of Rs 4.17 lakh crore. Net tax receipts in the first quarter of 2018-19 fiscal year that ends in March 2019 were Rs. 2.37 lakh crore, government data showed.
The Government of India has received Rs 2.78 lakh crore (15.33% of corresponding BE 18-19 of Total Receipts) up to June, 2018 comprising Rs 2.37 crore Tax Revenue (Net to Centre), Rs 30,601 crore of Non-Tax Revenue and Rs 10,843 crore of Non-Debt Capital Receipts. Non-Debt Capital Receipts consists of Recovery of Loans (Rs 2,083 crore) and Disinvestment of PSUs (Rs 8,760 crore).
Rs 1.57 lakh crore has been transferred to the State Governments as Devolution of Share of Taxes by the Government of India up to this period which is Rs. 12,982 crore higher than the corresponding period of last year 2017-18.
Total Expenditure incurred by the Government of India is Rs7.07 lakh crore (28.98% of corresponding BE 18-19), out of which Rs 6.20 lakh crore is on Revenue Account and Rs. 86,988 crore is on Capital Account. Out of the total Revenue Expenditure, Rs 1.44 lakh crore is on account of Interest Payments and Rs1.16 lakh crore is on account of Major Subsidies.
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