BUDGET AT A GLANCE
Article Abstract:
The tax revenue of the government in the 1998-99 budget is estimated at Rs116,857 crore against the revised estimate of 1997- 98 budget at Rs99,158 crore. The non tax revenue for 1998-99 is Rs45,137 crore. (rk) ------------------------------------------------------------ Budget 1998-99 (in Rs crore) ------------------------------------------------------------ 1997-98 Revised Estimate Budget Estimate 1997-98 1998-99 ------------------------------------------------------------ Revenue Receipts 153143 138514 161994 ------------------------------------------------------------ Capital Receipts 79033 96731 105983 ------------------------------------------------------------ Total Receipts 232176 235245 267927 ------------------------------------------------------------ Non Plan Expend iture 169324 174615 195925 ------------------------------------------------------------ Plan Expenditure 62852 60530 72002 ------------------------------------------------------------ Total Expenditure 232176 235245 267927 ------------------------------------------------------------ Revenue Deficit 30266 43686 48058 ------------------------------------------------------------ Fiscal Deficit 65454 86345 91025 ------------------------------------------------------------ Primary Deficit -2546 20645 16025 ------------------------------------------------------------
Comment:
India: Govt's tax revenue in 1998-99 budget is estimated at Rs116,857 crore against estimate of 1997-98 budget at Rs99,158 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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FISCAL DEFICIT MAY GROW TO 5.8 PC
Article Abstract:
The Government of India is expected to report a rise in the fiscal deficit to 5.8 percent of the gross domestic product (GDP). The rise is anticipated due to the changes in taxes and subsidy. The gross borrowings of the Government of India are expected to increase from the budgeted Rs91,000 crore to Rs95,000 crore during 1998-99. A reduction in the additional customs duty to 4 percent from 8 percent is expected to bring down the earnings by Rs1,300 crore. The absolute removal of the rise in urea prices is expected to cost the government an additional burden of Rs2000 crore. The earnings will fall by another Rs300 crore due to the changes in the excise duty on petrol. The Government of India is also expected to report a rise in its revenue deficit to Rs51,668 crore from the budgeted Rs48,068 crore for 1998-99. (ag)
Comment:
India: Country's government is expected to report rise in the fiscal deficit to 5.8% of the gross domestic product
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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