Struggling with revenues, the government has some comfort on the non-tax revenue (NTR) front in the current financial year. The government got Rs 2.32 trillion under this head till November against Rs 3.13 trillion estimated for the entire 2019-20. This constituted Rs 74.3 per cent of the Budget Estimates against 56.6 per cent by November in the previous financial year.
The RBI transferred Rs 1.76 trillion to the government in August, 2019. The Budget estimated Rs 1.06 trillion to come from dividends from RBI, public sector banks and financial institutions in the current financial year. Adding public sector dividends to this kitty, the Budget estimated that Rs 1.63 trillion would come in the year.
Of this, Rs 1.58 trillion has already recieved by the government till November, consttuting 97 per cent of BE. As much as 51 per cent came under this head by November in FY’19.
The recent Supreme Court order that dismissed telecom companies plea seekig a review of its earlier order asking them to pay Rs 1.47 trillion in past statutory dues of adjusted gross revenue may give further resources to the government on NTR front.
Source: Business Standard
