Centre transfers Rs 2,59,941 crore to states as devolution of share of taxes

The monthly account of the central government up to the month of September 2020 has been consolidated and reports published. The Finance Ministry said in a release that Rs 2,59,941

The monthly account of the central government up to the month of September 2020 has been consolidated and reports published.

The Finance Ministry said in a release that Rs 2,59,941 crore has been transferred to state governments as devolution of share of taxes by the Government of India up to this period which is Rs 51,277 crore lower than the previous year.

It said the government has received Rs 5,65,417 crore (25.18 per cent of corresponding BE 2020-21 of total receipts) up to September 2020 comprising Rs 4,58,508 crore tax revenue (net to centre), Rs 92,274 crore of non-tax revenue and Rs 14,635 crore of non-debt capital receipts.

Non-debt capital receipts consist of recovery of loans (Rs 8,854 crore) and disinvestment proceeds (Rs 5,781crore).

The release said Rs 2,59,941 crore has been transferred to state governments as devolution of share of taxes by Government of India up to this period which is Rs 51,277 crore lower than the previous year.

“Total Expenditure incurred by Government of India is Rs 14,79,410 crore (48.63 per cent of corresponding BE 2020-21), out of which Rs 13,13,574 crore is on revenue account and Rs 165,836 crore is on capital account. Out of the total revenue expenditure, Rs 3,05,652 crore is on account of interest payments and Rs 1,56,210 crore is on account of major subsidies,” the release said. (ANI)

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