non tax revenue

Finance Minister Nirmala Sitharaman assured that India will maintain fiscal prudence while shielding citizens from rising global crude oil prices. She highlighted India's stable fuel prices compared to other nations, dismissing lockdown rumors as baseless and aimed at creating fear. The government has reduced excise duty on petrol and diesel to protect consumers.

The windfall tax will also help the Centre partly offset the impact of the excise duty cut. Central Board of Indirect Taxes and Customs chairman Vivek Chaturvedi said the windfall tax on exports will result in a gain of about Rs 1,500 crore in the first fortnight while the govt will have to forgo over Rs 7,000 crore in revenue because of the excise duty cut. He said the export tax will be reviewed fortnightly.

Delhi's 2026-27 budget totals Rs 1,03,700 crore, prioritizing education, health, and urban development. Key allocations include Rs 19,326 crore for education and Rs 13,034 crore for health, alongside initiatives for women's safety and public service enhancement.

Delhi's 2026-27 budget, totaling Rs 1,03,700 crore, prioritizes education and health, allocating significant funds for green initiatives and infrastructure. Key spending includes transport, urban development, and water projects. The government aims to boost the economy through MSME support and job creation, while also focusing on environmental protection and welfare schemes.

In a groundbreaking announcement, Chief Minister Rekha Gupta introduced a monumental 'green budget' for the fiscal year 2026-27, earmarking an impressive Rs 1,03,700 crore. This budget is set to revolutionize Delhi's infrastructure with a substantial 30% of total funds allocated, while 21% is dedicated to vital environmental initiatives.

Delhi's per capita income is projected to reach ₹5,31,610 in 2025-26, a 7.92% increase, significantly outpacing the national average. This growth aligns with a projected GSDP of ₹13.27 lakh crore, driven by the dominant services sector. The government also anticipates a revenue surplus and has allocated substantial funds towards transport, social security, water, education, and health.

Tax and non-tax revenue receipts of the state government, till December 2019 of the FY 2019-20, a copy of which is with TOI, show that while it did relatively better in tax revenue side, it’s the non-tax revenue is alarming.

Faced with the challenge of raising revenue to fund guarantee schemes given the debt burden, chief minister Siddaramaiah may focus on untapped non-tax revenue sources in his budget on July 7.

Contrary to Punjab government's claims on efforts to revive the state's economy, the government has been able to garner just 3.59% of the total estimated non-tax revenue in the first two months of this fiscal year.