New Delhi: Centre has transferred Rs.55,680 crore less to the States towards devolution of taxes in fiscal 2020-21 as compared to 2019-20.
The Accounts of the Union Government of India (Provisional/Unaudited) for the Financial Year 2020-21 has been consolidated and reports published.
The Centre has released a total Rs 5,94,997 crore to.State governments as Devolution of Share of Taxes in FY 21.
The government of India has received Rs. 16,89,720 crore (105.50% of corresponding RE 20-21 of Total Receipts) during 2020-21 comprising Rs 14,24,035 crore Tax Revenue (Net to Centre), Rs. 2,08,059 crore of Non Tax Revenue and Rs. 57,626 crore of Non Debt Capital Receipts. Non Debt Capital Receipts consists of Recovery of Loans (Rs. 19,729 crore) and Disinvestment Proceeds (Rs. 37,897 crore).
Total Expenditure incurred by government of India is Rs. 35,11,181 crore (101.76% of corresponding RE 20-21), out of which Rs. 30,86,360 crore is on Revenue Account and Rs 4,24,821 crore is on Capital Account. Out of the Total Revenue Expenditure, Rs. 6,82,079 crore is on account of Interest Payments and Rs 6,89,545 crore is on account of Major Subsidies.