The Union Government has released its financial accounts for the period up to July 2024. Here’s a breakdown of the key figures and trends:
Total Receipts
As of July 2024, the government’s total receipts stand at ₹10,23,406 crore. This figure represents 31.9% of the Budget Estimates (BE) for the financial year 2024-25. The main sources of these receipts are:
- Tax Revenue: ₹7,15,224 crore
- Non-Tax Revenue: ₹3,01,796 crore
- Non-Debt Capital Receipts: ₹6,386 crore
Transfer to States
A significant portion of the total receipts, amounting to ₹3,66,630 crore, has been transferred to various state governments. This is their share of taxes collected by the central government. This amount is ₹57,109 crore higher than what was transferred during the same period last year, showing a notable increase in the funds allocated to states.
Government Expenditure
On the expenditure side, the government has spent ₹13,00,351 crore up to July 2024, which is 27% of the BE for 2024-25. This expenditure is divided into:
- Revenue Account: ₹10,39,091 crore
- Capital Account: ₹2,61,260 crore
Revenue Expenditure Breakdown
Within the revenue expenditure, the key allocations are:
- Interest Payments: ₹3,27,887 crore
- Major Subsidies: ₹1,25,639 crore
In summary, the Union Government’s financial operations up to July 2024 show a balanced approach in revenue generation and expenditure, with significant increases in state transfers and a clear allocation towards interest payments and subsidies.