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What is Receipts budget?
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
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