Govt A/Cs (PSU dis-investment : Need of hour)

1.       In the first 3 months of the FY15, Indian Government Tax Revenue collection growth remains to be at the similar pace as it was in FY14 (just 3.4%).

2.       To control the deficit, government is cutting down Plan Expenditure, however Non-plan expenditure kept on rising at steady pace (collective growth of 8.2%).

3.       Accordingly, Fiscal deficit is around Rs 3 lakhs crore, which is more than 50% of the estimated deficit for full year.

4.       Naturally, in coming 7-8 months we will see PSU dis-investment drive.

5.       First 3 months of fiscal accounts generally for 15-16% of Total Tax Revenue of the year. Growth in tax revenues will confirm the improvements taking place in the economy, so one must closely look at these numbers.

6.       Anyone who wishes to analyze more on government accounts can use this excel file.

 

 

April to June, YoY Growth (%) of various Taxes collected
	FY11	FY12	FY13	FY14	FY15
Corp Tax	23.7	-27.8	53.0	2.7	-0.6
Income Tax	13.8	1.9	40.2	15.5	15.2
Customs	62.2	37.7	-1.2	4.9	-4.9
Union Excise Duties	52.0	23.2	8.0	-18.3	-12.9
Service Tax	9.1	31.1	40.7	15.9	19.5
Other Taxes	-36.8	0.8	-6.3	7.3	25.3
Gross Tax Revenue	28.6	5.0	25.0	4.2	3.4
Tax Revenues	32.6	-6.3	32.8	-2.5	-2.8
Non Plan Expenditure	8.4	14.9	27.3	18.7	12.9
Plan Expenditure	60.7	-4.5	2.5	33.2	-2.6
Expenditure	23.0	7.8	19.3	22.7	8.2
April to June (Rs crores), Summarized Union Govt Accounts
	FY11	FY12	FY13	FY14	FY15
Tax Revenues	83,994	78,699	104,505	101,910	99,087
Non Tax Revenue	115,816	12,221	14,215	15,324	15,340
Non Debt Capital	2,202	7,644	2,402	2,172	1,317
Total Receipts	202,012	98,564	121,122	119,406	115,744
Non Plan Expenditure	154,148	177,093	225,361	267,397	301,797
Plan Expenditure	88,060	84,124	86,221	114,832	111,806
Fiscal Deficit	40,196	162,653	190,460	262,823	297,859
Gross Tax Revenue
Till Date	129,478	136,002	169,994	177,066
Full Year	793,072	888,898	1,145,260	1,138,533
%	16%	15%	15%	16%