Revenue collection for April-May capped at Rs.1,27,461cr

New Delhi: A sum of Rs.1,27,461 crore has been collected towards revenue up to May this year, the Ministry of Finance said on Friday.

The aforementioned figure comprises Rs. 1,02,408 crore tax revenue (Net to Centre), Rs.24, 049 crore of non tax revenue and Rs. 1,004 crore of non debt capital receipts, an official release noted.

Among the non debt capital receipts is recovery of loans (Rs.570 crore) and disinvestment of public sector undertakings (PSUs) (Rs. 434 crore).

Meanwhile, Rs.1,11,578 crore has been transferred to state governments as a devolution of share of taxes by the Centre up to this period, which is Rs. 15,217 crore higher than the corresponding period of the last year 2017-18, the release highlighted.

On the other hand, total expenditure incurred by the government is Rs.4,72,954 crore, out of which Rs.4,09,163 crore is on revenue account and Rs.63,791 crore is on capital account.

Out of the total revenue expenditure, Rs.73,606 crore is on account of interest payments and Rs.88,689 crore is on account of major subsidies, the Ministry added. (ANI)