The Centre has borrowed ₹8.1 trillion in the first eight months of this fiscal against the ₹12.3-trillion market borrowing target. This is an improvement over the 10.5% expansion in tax revenue projected in the Union budget. The Centre’s corporate tax receipts grew 20% in 8MFY24 to ₹5.14 trillion, while personal income tax collections jumped 29% in the same period to ₹5.67 trillion. Centre’s revenue receipts in the first eight months of this fiscal stood at ₹17.2 trillion or two-thirds of the full-year target. However, capital expenditure in the April to November period this fiscal stood at ₹5.8 trillion, or 58.5% of the targeted ₹10 trillion for the full year.

Source: Mint December 31, 2023 16:30 UTC