Central Government Allocates ₹5.28 Lakh Crore as State Devolution for Tax Share
Central Government has transferred ?5,28,405 crore to State Governments as Devolution of Share of Taxes, marking a ?93,966 crore increase from the previous year.
Central Government Allocates – Central Government – State Devolution – Tax Share – State Devolution for Tax Share – TAXSCAN
Central Government Allocates – Central Government – State Devolution – Tax Share – State Devolution for Tax Share – TAXSCAN
The Government of India has transferred ₹5,28,405 crore to State Governments as Devolution of Share of Taxes up to this period, reflecting an increase of ₹93,966 crore compared to the previous year. The Union Government of India has consolidated and published the Monthly Account up to October 2023. Here are the key highlights:
The total receipts received by the Government amount to ₹15,90,712 crore, which is 58.6% of the corresponding Budget Estimate (BE) for 2023-24. This includes ₹13,01,957 crore from Tax Revenue (Net to Centre), ₹2,65,765 crore from Non-Tax Revenue, and ₹22,990 crore from Non-Debt Capital Receipts. Non-Debt Capital Receipts comprise ₹14,990 crore from Recovery of Loans and ₹8,000 crore from Miscellaneous Capital Receipts.
The total expenditure incurred by the Government of India stands at ₹23,94,412 crore, which is 53% of the corresponding BE for 2023-24. This expenditure is divided into ₹18,47,488 crore on Revenue Account and ₹5,46,924 crore on Capital Account. Among the total Revenue Expenditure, ₹5,45,086 crore is allocated to Interest Payments, while ₹2,31,694 crore is allocated to Major Subsidies.
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