Receipts pegged 12.59 pc higher at Rs 4103.09 bn
The Union Budget on Thursday proposed a 12.59 per cent increase in the receipts at Rs 4103.09 billion mainly through higher tax mop up.
Presenting the Budget for 2002-03, Finance Minister Yashwant Sinha pegged total receipts at Rs 4103.09 billion compared to the revised estimate of Rs 3644.36 billion in the fiscal. The total receipts were pegged at Rs 3752.23 billion in the last Budget.
Total revenue receipts was pegged at 15.3 per cent higher at Rs 2451.05 billion in 2002-03 mainly through higher direct tax collections.
Total capital receipts was placed at Rs 1652.04 billion, which is nine per cent higher than the revised estimate of Rs
1518.64 billion for this fiscal.
Centre's net revenue receipts are estimated at Rs 2451.05 billion for the next fiscal compared to the revised estimate of Rs 2125.72 billion in this fiscal.
The revenue collections, which fell short of the targeted Rs 2317.45 billion, was expected to go up significantly on account of buoyancy in tax revenues.
The total tax revenue has been pegged at 19.9 per cent higher at Rs 2358 billion for the next fiscal from Rs
1966.93 billion estimated for this fiscal.
The total revenue target was much higher at Rs 2266.49 billion for this fiscal.
Centre's net tax revenue, after providing for states' share, is targeted at Rs 1729.65 billion in 2002-03 as against the revised estimate of Rs 1423.48 billion this fiscal.
The share of the states in the revenue is projected at Rs 612.35 billion during 2002-03 as against the revised estimate of Rs 528.45 billion during this fiscal.
The net tax revenue in the current fiscal was much lower than Rs 1630.31 billion targeted in the beginning of this fiscal.
Non-tax revenues are estimated to increase by a meager 2.7 per cent to Rs 721.40 billion as against the revised estimate of Rs 702.24 billion.
The non-tax target was pegged at Rs 687.14 billion in the last Budget.
On capital receipts front, the budget proposed to raise Rs 958.59 billion from the market. The market borrowing is estimated to touch Rs 914.80 billion during this fiscal as against Rs 773.53 billion pegged in the last budget.
The government kept its targeted divestment receipts at Rs 120 billion as against the revised estimate of Rs 50 billion this fiscal.
PTI
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