All those Businessmen out there, Cheer Up, Even the Union Government of India is in the same boat as all of us, in this corona pandemic.
Monthly Review of Accounts of Union Government of India upto the month of September, 2020 for the Financial Year 2020-21
The Monthly Account of the Union Government of India upto the month of September, 2020 has been consolidated and reports published. The highlights are given below:
Consolidated Account of the Union Government (1.4.2020 – 30.9.2020)
|EXPENDITURE||Amount in INR Crores||RECEIPTS||Amount in INR Crores|
(i) Interest Payments
(ii) Major Subsidies
|Capital Expenditure||1,65,836.00||Non-Tax Revenue||92,274.00|
|Non-Debt Capital Receipts
(i) Recovery of Loans
(ii) Disinvestment Proceeds
The Government of India has received ₹5,65,417 crore (25.18% of corresponding BE 2020-21 of Total Receipts) upto September, 2020 comprising ₹ 4,58,508 crore Tax Revenue (Net to Centre), ₹92,274 crore of Non-Tax Revenue and ₹14,635 crore of Non-Debt Capital Receipts. Non-Debt Capital Receipts consists of Recovery of Loans (₹8,854 crore) and Disinvestment proceeds (₹5,781crore).
₹2,59,941 crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India upto this period which is ₹51,277 crore lower than the previous year.
Total Expenditure incurred by Government of India is ₹14,79,410 crore (48.63% of corresponding BE 2020-21), out of which ₹13,13,574 crore is on Revenue Account and ₹165,836 crore is on Capital Account. Out of the Total Revenue Expenditure, ₹3,05,652 crore is on account of Interest Payments and ₹1,56,210 crore is on account of Major Subsidies.
Source: Press Release bearing ID 1668448, dated 29.10.2020 by Press Information Bureau (PIB)
Thus, the Consolidated Half Yearly Accounts of the Union Government of India are reflecting a DEFICIT Balance of Rs 9,13,993 crores.
So, all those Businessmen out there, Cheer Up, Even the Union Government of India is in the same boat as all of us, in this corona pandemic.