WHAT IS RECEIPTS BUDGET?
Receipts Budget
A Receipts Budget is one the most important documents in a Union Budget. It is an extensive list of income generated from different sources by the government in a given financial year. It showcases the break-up of revenue generated under different heads.
Part of the Annual Financial Statement of the government, the receipt has details of tax revenue, non-tax revenue, and capital receipts. It also contains information and analysis of tax and non-tax receipts, along with the fiscal trends of the year.
The Receipt Budget shows the revenue and capital receipts under four time-periods:
* Actual of the previous-to-previous year
* Budget estimates for the current year
* Revised estimates for the current year
* Budget estimates for the next year
Budget Receipts are classified under two heads:
Revenue Receipts: Revenue receipts refer to those receipts which neither create any liability nor cause any reduction in the assets of the government. They are regular and recurring in nature. Any amount borrowed by the government is not a revenue receipt as it causes an increase in liabilities in terms of repayment of borrowings. Two sources that form revenue receipts include tax revenue and non-tax revenue.
The Budget estimates of the government's revenue receipts for the year 2020-21 added to Rs 20,20,926 crore. The revised estimates of revenue receipts for the 2019-20 Budget came at Rs 18,50,101 crore, while the actuals for the 2018-19 Budget stood at Rs 15,52,916 crore.
Capital Receipts: This receipt contains statements of the various assets and liabilities of the government. Such statements are prepared based on the inputs received from various ministries and departments. Capital receipts include non-debt receipts and debt-receipts. Non-debt receipts are those capital receipts that do not lead to debt, such as divestments in public-sector companies, recovery of loans, etc.
The Budget estimates of the government's capital receipts for the year 2020-21 added to Rs 10,74,306 crore. The revised estimates of capital receipts for the 2019-20 Budget came at Rs 8,48,450 crore, while the actuals for the 2018-19 Budget stood at Rs 7,63,518 crore.
Read full Receipts Budget documents
Receipts Budget 2021-2022
Part of the Annual Financial Statement of the government, the receipt has details of tax revenue, non-tax revenue, and capital receipts. It also contains information and analysis of tax and non-tax receipts, along with the fiscal trends of the year.
The Receipt Budget shows the revenue and capital receipts under four time-periods:
* Actual of the previous-to-previous year
* Budget estimates for the current year
* Revised estimates for the current year
* Budget estimates for the next year
Budget Receipts are classified under two heads:
Revenue Receipts: Revenue receipts refer to those receipts which neither create any liability nor cause any reduction in the assets of the government. They are regular and recurring in nature. Any amount borrowed by the government is not a revenue receipt as it causes an increase in liabilities in terms of repayment of borrowings. Two sources that form revenue receipts include tax revenue and non-tax revenue.
The Budget estimates of the government's revenue receipts for the year 2020-21 added to Rs 20,20,926 crore. The revised estimates of revenue receipts for the 2019-20 Budget came at Rs 18,50,101 crore, while the actuals for the 2018-19 Budget stood at Rs 15,52,916 crore.
Capital Receipts: This receipt contains statements of the various assets and liabilities of the government. Such statements are prepared based on the inputs received from various ministries and departments. Capital receipts include non-debt receipts and debt-receipts. Non-debt receipts are those capital receipts that do not lead to debt, such as divestments in public-sector companies, recovery of loans, etc.
The Budget estimates of the government's capital receipts for the year 2020-21 added to Rs 10,74,306 crore. The revised estimates of capital receipts for the 2019-20 Budget came at Rs 8,48,450 crore, while the actuals for the 2018-19 Budget stood at Rs 7,63,518 crore.
Read full Receipts Budget documents
Receipts Budget 2021-2022
RELATED BUDGET TERMS
RECEIPTS BUDGET NEWS
-
Budget 2023: Govt likely to avoid populist measures; tax tweaks possible
FM Sitharaman is unlikely to tinker much with tax rates, yet will also steer clear of populist measures, according to economists ...| January 27, 2023, Friday -
Abolish exemptions
Instead of reducing tax rates, Budget 2023 should take steps to reverse the decline in tax buoyancy| November 22, 2022, Tuesday -
The process involved in preparing the Union Budget: An explainer
All of this culminates on February 1, when the Cabinet approves the budget, the Finance Minister presents it to the President, ...| October 14, 2022, Friday -
A different election Budget
We must also acknowledge a certain middle class approach this government takes to managing the economy| February 02, 2022, Wednesday -
Climate action takes centre stage in Union Budget: More Intent, Less Money
Budget falls short of making significant budgetary allocation to key sectors of energy efficiency, sustainability and clean tech| February 01, 2022, Tuesday -
Budget 2022: India Inc to benefit from govt's massive capex push
Companies to bag for roads, railways and defense projects| February 01, 2022, Tuesday -
LIVE: This Budget brings more infra, more growth and more jobs, says PM
Budget 2022 LIVE updates: Finance Minister Nirmala Sitharaman presented the annual Union Budget 2022-23 in Parliament today. ...| February 01, 2022, Tuesday -
Budget 2022 LIVE: Govt to take balanced view on cryptocurrency, says Sanyal
The issue of cryptocurrency has not been covered in the Economic Survey 2021-22, Principal Economic Adviser said in an ...| January 31, 2022, Monday -
Budget-making during recovery
The challenges before the coming Budget are more daunting than those in 2021| January 25, 2022, Tuesday -
Budget 2022-23: Govt likely to target 13-14% nominal growth in FY23
A faster growth projection may cause inflation concerns, say officials| January 17, 2022, Monday
