Central Government Receives Rs 834,197 Crore in Q1 FY 2024-25

The Ministry of Finance reported the central government received Rs 834,197 crore, 27.1% of 2024-25's budget estimates, by June. Tax Revenue net was Rs 549,633 crore, Non-Tax Revenue Rs 280,044 crore, and Non-Debt Capital Receipts Rs 4,520 crore. Expenditures totaled Rs 969,909 crore.

The central government has received Rs 834,197 crore, amounting to 27.1% of the corresponding budget estimates for the fiscal year 2024-25, up to June, according to a release by the Ministry of Finance. The Budget document pegged total receipts, excluding borrowings, at Rs 32.07 lakh crore.

The breakdown of these receipts included Rs 549,633 crore in Tax Revenue (Net to Centre), Rs 280,044 crore in Non-Tax Revenue, and Rs 4,520 crore in Non-Debt Capital Receipts from the recovery of loans. So far, Rs 279,502 crore has been transferred to state governments as their share of taxes, a figure which is Rs 42,942 crore higher than last year.

The central government's total expenditure stood at Rs 969,909 crore, or 20.4% of the budget estimates for 2024-25. This amount includes Rs 788,858 crore on Revenue Account and Rs 181,051 crore on Capital Account. Of the total revenue expenditure, Rs 264,052 crore was allocated for interest payments, and Rs 90,174 crore was spent on major subsidies.

The Monthly Accounts of the Government of India for June 2024 have been consolidated and reports published. (ANI)

(With inputs from agencies.)