February 02, 2017 / 01:53 PM IST
Gross Tax Receipts estimated at Rs.1515771 crores and Net Tax to Centre is estimated at Rs.1227014 crores.
Total Non-Tax Revenue is estimated at Rs.288757 crores and Capital Receipts are estimated at Rs.630964 crores.
Total expenditure for FY18 is budgeted at Rs.2146735 crores. With the abolition of Plan-Non Plan classification of expenditure, the focus is on Revenue and Capital expenditure. Of this Scheme Expenditure is Rs. 945078 crores & Expenditure other than Schemes is Rs. 945078 crores. Total Scheme and Non-Scheme Expenditure to grow by 25.4% over the previous year.
The effective revenue deficit is budgeted @ RS. 1.25 lakh crores in FY18 which is -0.7% of GDP against Rs.1.39 lakh crores in FY17 revised estimates, which was -0.9% of GDP.
As per the FRBM committee report recommendations sustainable debt path must be the principal macro–economic anchor for the fiscal policy. The committee has favored Debt to GDP of 60% for the General Government by 2023. Within this frame work 3% fiscal deficit is targeted for next three years with an escape clause for deviation upto 0.5% of GDP.
Fiscal deficit for FY18 is targeted at 3.2% of GDP and Government remains committed to achieve 3% in the following year.
Roadmap & Priorities“Transform, Energise and Clean India” (TEC) is the road map of Budget FY17-18.
10 distinct themes to achieve this agenda few of them are as follows:1.Double farmers income by 5 Years
2. Employment and basic infrastructure to Rural population
3. Energising Youth through Education, Skills and jobs
4. Strengthening Poor and Underprivilaged
5. Improving Infrastructure to improve efficiency and quality of life.
6. Finacial Sector growth and & stability with stronger institution
7. Digital Economy
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