New Delhi: The Ministry of Finance said in a statement on Wednesday that the union government has released the consolidated accounts for the month of April 2023, providing an overview of the financial transactions during the period. Total receipts received by the government for April amounted to Rs 1,70,501 crore, which is 6.3 percent of the corresponding Budget Estimate (BE) for 2023-24. This includes Rs 1,58,901 crore of Tax Revenue (Net to Centre), Rs 10,958 crore of Non-Tax Revenue, and Rs 642 crore of Non-Debt Capital Receipts, the statement added.
Non-Debt Capital Receipts consist of Recovery of Loans (Rs 592 crore) and Miscellaneous Capital Receipts (Rs 9 crore). Notably, Rs 59,140 crore has been transferred to state governments as the Devolution of Share of Taxes by the government, representing an increase of Rs 11,548 crore compared to the previous year, the statement said.
Further, the statement also highlighted that the government's total expenditure for April stood at Rs 3,04,096 crore, which is 6.8 percent of the corresponding Budget Estimate for 2023-24. Out of this, Rs 2,25,639 crore was allocated to Revenue Account expenditure, while Rs 78,457 crore was assigned to Capital Account expenditure. Within the Total Revenue Expenditure, Rs 47,929 crore was utilised for Interest Payments, and Rs 25,161 crore was allocated for Major Subsidies.
The significant amount of Tax Revenue and Non-Tax Revenue collected demonstrates the government's efforts to mobilise funds for various developmental activities and public welfare initiatives. Moreover, the increased transfer of funds to State Governments through the Devolution of Share of Taxes reflects the government's commitment to promoting fiscal decentralisation and empowering the states. The allocation of expenditure towards Interest Payments and Major Subsidies highlights the government's focus on meeting financial obligations and providing support to key sectors of the economy.
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