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budget-receipts-expenditure
October 2 2020

Budget 2020-21:Receipts and expenditure of the Central Government

Sandeep KumarQuick Scan

Receipts

  • Taxes and duties levied by the government form the biggest source of its income or receipts.
  • It is interesting to see that in the total receipts of the government for the FY 2020-21 the share of Corporate Taxes is 18% followed by GST and other taxes with a share of 18%.
  • In the total receipt of the central government the share of income tax is 17% while the share of union excise duty is just 7% and customs duty only 4%.
  • Non tax receipts constitute about 10% of the total receipts of the government whereas non-debt capital receipts about 6%.
  • Market borrowing and other liabilities still remain to be the largest source of central government’s receipts constituting 20% of the total receipt.

Expenditure

  • Interest Payments constitute 18% of total expenditure of the central government, followed by central sector schemes at 13%, centrally sponsored government schemes at 9%, defense at 8% and subsidies and pensions both at 6%. Other heads of expenditure had a share of 10 in total expenditure of the government.
  • It is also interesting to see that the share of taxes transferred to states by centre constituted about 20% of the total expenditure of the central government and Finance Commission and other transfers claiming 10% of the total expenditure of the central government.

 

What is included in non-debt capital receipts?

In the budget documents, the Union government usually lists non-debt capital receipts in two broad categories – recovery of loans and other receipts. Other receipts basically mean disinvestment proceeds from the sale of the government’s share in public sector companies. Over the years, this has become a major source of the Union government’s non-debt capital receipts.

At a detailed level, the government divides non debt capital receipts into more than a dozen sub-heads.

Types of Non Debt Capital Receipts

Broadly, there are two kinds of non debt capital receipts:

  • Recoveries of loans and advances and
  • Miscellaneous capital receipts

 

Recoveries of loans and advances:

 

This kind of non debt capital receipts includes:

  • Recovery of loans and advances from state governments and union territories with legislature
  • Recovery of loans given to foreign governments
  • Recovery of loans and advances from PSUs and other autonomous bodies

However, recovery of loans and advances account for only a small fraction of total non debt capital receipts

 

Miscellaneous Capital Receipt

 

This includes proceeds from disinvestment in public sector undertakings. The government further classifies disinvestment proceeds into:

  • Disinvestment receipts
  • Strategic disinvestment
  • Listing of PSUs in stock markets and
  • Issue of bonus shares

Over a period, disinvestment has become the main source of the Union government’s non debt capital receipts.

 

Sandeep Kumar
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