Budget 2018: Govt may not be able to meet its gross revenue target in FY18

Need for budget?

With revenue falling short of expectations, analysts said the Centre was unlikely to meet its fiscal deficit target of 3.2 per cent in FY18


BUDGET NEWS :  Notwithstanding Repeated assurances from the authorities, it's miles enormously probably that the Centre might not be capable of meet its gross revenue goal in FY18. As shown in Chart 1, the indirect tax collection target changed into Rs 926 billion for FY18. however so far collections under the products and offerings  tax (GST) were beneath expectations. simplest 66.7 according to cent of assessees filed returns in December, even as collections under the repayment scheme also have been subdued.

Non-tax revenue collection also seems to be underneath stress, with the Reserve financial institution of India (RBI) transferring a decrease than predicted dividend, as proven in Chart 2. but recent reviews recommend the RBI may additionally nicely switch a higher amount.

Disinvestment proceeds, but, provide a few cheer. As proven in Chart 3, the Centre has mopped up Rs 523.8 billion until the end of November as against a budgeted goal of Rs 725 billion. With ONGC’s purchase of the government’s stake in HPCL for Rs 369.15 billion, the Centre will surpass its disinvestment goal for the first time given that 2009. reviews propose the Centre should ramp up stake income, pushing disinvestment proceeds to Rs 1 trillion this yr.


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