NEW DELHI: The Comptroller and Auditor General (CAG) tabled a report in the Lok Sabha on Monday on the Government of India’s account for financial year 2019-20, stating that the Centre fell short by more than Rs 2 lakh crore from the revenue receipts estimated in the budget.
“Although the Union government envisaged a considerable reduction in revenue receipts at the RE (revised estimate) stage as compared to BE (budget estimate), actual revenue receipts were lower by Rs 2,05,344 crore than the revised estimate,” the CAG noted. The Union account scrutiny by the federal auditor revealed that in the case of tax revenue, though the revised estimate was lower than the budget estimate (Rs 1,44,685 crore), the actuals remained further lower than the RE (Rs 1,47,995 crore).
This was primarily due to collections being less than the RE in the case of ‘taxes on income other than corporation tax’ (Rs 66,652 crore); corporation tax (Rs 53,624 crore) and Central Goods and Services Tax (Rs 19,929 crore).
For non-tax revenue (NTR), the revised estimate was higher than the budgert estimate due to a sharp increase in estimates for interest receipts, dividends and profits (Rs 58,874 crore) even though estimates for ‘other non-tax revenue’ was reduced (Rs 9,046 crore) as compared with the budget estimate.
“Although the Union government envisaged a considerable reduction in revenue receipts at the RE (revised estimate) stage as compared to BE (budget estimate), actual revenue receipts were lower by Rs 2,05,344 crore than the revised estimate,” the CAG noted. The Union account scrutiny by the federal auditor revealed that in the case of tax revenue, though the revised estimate was lower than the budget estimate (Rs 1,44,685 crore), the actuals remained further lower than the RE (Rs 1,47,995 crore).
This was primarily due to collections being less than the RE in the case of ‘taxes on income other than corporation tax’ (Rs 66,652 crore); corporation tax (Rs 53,624 crore) and Central Goods and Services Tax (Rs 19,929 crore).
For non-tax revenue (NTR), the revised estimate was higher than the budgert estimate due to a sharp increase in estimates for interest receipts, dividends and profits (Rs 58,874 crore) even though estimates for ‘other non-tax revenue’ was reduced (Rs 9,046 crore) as compared with the budget estimate.
More News
Lok Sabha polls 2024 bank holidays: Banks in these cities will be closed on April 26 for general elections Phase 2 | – Times of India
Good signal for Indian IT sector job seekers: Contractual hiring shows demand uptick – Times of India
Hydrocracking technology can produce SAF at lower costs: Honeywell – Times of India