India Reports Steady Fiscal Performance: A Mid-Year Snapshot

India's financial year 2024-25 accounts reveal a receipt of Rs 16.37 lakh crore up to September, making up 51% of the budget estimates. Tax revenue stands at Rs 12.65 lakh crore, with Rs 21.11 lakh crore spent, showing balanced fiscal management as the year progresses.

In a detailed account of India's fiscal health, the government reported a total receipt of Rs 16.37 lakh crore up to September in the 2024-25 financial year, representing 51% of the Budget Estimates (BE). Tax revenue netted to the Centre reported Rs 12.65 lakh crore, with non-tax revenue contributing Rs 3.57 lakh crore and non-debt capital receipts adding Rs 14,601 crore. A significant Rs 5.45 lakh crore was transferred to state coffers, marking a notable increase over the previous year's figures.

On the expenditure front, the central government's outlay reached Rs 21.11 lakh crore, or 43.8% of the year's BE. Revenue accounts absorbed Rs 16.97 lakh crore, while capital expenditure was recorded at Rs 4.15 lakh crore. Interest payments took up Rs 5.15 lakh crore, alongside Rs 2.15 lakh crore dedicated to major subsidies, reflecting a balanced fiscal approach amidst steady revenue inflows.

In the preceding month, government receipts totaled Rs 12.17 lakh crore, covering 38% of the year's BE up to August. Of this, Rs 8.73 lakh crore derived from tax revenues, supplementing Rs 3.34 lakh crore from non-tax avenues, and Rs 8,866 crore from non-debt capital receipts. The transfer to state governments amounted to Rs 4.55 lakh crore, a rise of Rs 73,235 crore over last year, alongside a total expenditure of Rs 16.52 lakh crore, reflecting careful fiscal management through the halfway mark of the financial year. (ANI)

(With inputs from agencies.)