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Gross tax collections finally turn out to be 9.8% of GDP; Govt mops up about Rs 1.97 lakh crore non-tax revenue during last fiscal

By TIOL News Service

NEW DELHI, MAY 17, 2015: BASED on March 31 data, the Centre has claimed that the fiscal deficit at the end of 2014-15, stands at Rs. 5,01,880 crore which is 98% of the projected figure in RE 2014-15. Fiscal deficit as a percentage of GDP is 4.0% as against the RE of 4.1%. (4.4% for the previous year 13-14). The Union Government is firmly committed to path of fiscal consolidation and this is a step forward.

Revenue deficit at the end of 2014-15 is Rs 3,58,306 crore which is 99% of the projected figure in the RE 2014-15  and is 2.8% of the GDP as against the RE of 2.9%. (3.2% for the previous year FY13-14)

Gross Tax Collections at Rs. 12,45,037 crore has shown a growth of 9% (Rs.1,06,303 crore) as compared to FY 2013-14. The gross tax collections is 9.8% of GDP.

While, Devolution of tax collections to States at the end of 2014-15 is Rs.3,37,808 crore which is higher by Rs.19,578 crore over the previous year 2013-14 while the Non-Tax Revenue stands at Rs.1,96,959 crore (90% of RE).

Non-Debt Capital Receipts which includes disinvestment stands at Rs.43,439 crore (103% of RE) and has shown an increase of 4% as compared to the previous year's collection of Rs.41,865 crore.

Plan Expenditure at the end of 2014-15 stands at Rs.4,35,621 crore while Non-Plan Expenditure during the same year has been Rs.11,91,140 crore (99.8% of RE) .


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