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Datanomics: Govt betters fiscal deficit target despite lower tax receipts
The Union government received lower tax revenues than projected in the Budget (Revised Estimates) but did not compromise on capital expenditure for 2024-25. Yet, it managed to improve upon its fiscal deficit target as a proportion of gross domestic product (GDP), thanks to nominal GDP turning out higher than what the Budget had assumed.
Revenues disappoint
The government got higher receipts than projected in the Revised Estimates for FY25 only under non-tax revenues head, thanks to ₹2.11 trillion surplus transfer from the RBI. On the expenditure side, the axe fell on revenue head, unlike the normal practice of cutting capital expenditure to check the fiscal deficit
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Time of India
18 minutes ago
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Jaipur: State's department of mines and geology earned Rs 1,306.44 crore in revenue during the first two months of the current financial year, an increase of Rs 57.71 crore compared to the same period last year. According to officials, strict enforcement against illegal mining and full recovery of penalties from violators contributed to this strong start. A senior official said, "Field officers have been directed to enhance their presence to improve coordination with stakeholders, curb illegal activities, and generate both revenue and employment." To enhance revenue, the department is also focusing on mineral exploration. Agencies from both Union and state govts, as well as private sector, are being engaged in exploration. Officials said 35 private agencies were registered under National Mineral Exploration Trust (NMET) and 20 of them have already begun operations in various states, including Rajasthan. Rajasthan was last year recognised as the most progressive in the mining sector for auctioning the highest number of major mineral blocks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 임플란트 최대 할인 지원해드려요 임플란터 더 알아보기 Undo An official highlighted that the Union govt has launched National Critical Minerals Mission to promote exploration, mining operations, processing, and recycling. Support for research and development is being provided through NMET funding, along with incentives for companies involved in mineral processing and recycling. "Although Rajasthan leads in the auction of major mineral blocks, delays in operationalising these mines due to regulatory clearances remain a challenge," the official said. Jaipur: State's department of mines and geology earned Rs 1,306.44 crore in revenue during the first two months of the current financial year, an increase of Rs 57.71 crore compared to the same period last year. According to officials, strict enforcement against illegal mining and full recovery of penalties from violators contributed to this strong start. A senior official said, "Field officers have been directed to enhance their presence to improve coordination with stakeholders, curb illegal activities, and generate both revenue and employment." To enhance revenue, the department is also focusing on mineral exploration. Agencies from both Union and state govts, as well as private sector, are being engaged in exploration. Officials said 35 private agencies were registered under National Mineral Exploration Trust (NMET) and 20 of them have already begun operations in various states, including Rajasthan. Rajasthan was last year recognised as the most progressive in the mining sector for auctioning the highest number of major mineral blocks. An official highlighted that the Union govt has launched National Critical Minerals Mission to promote exploration, mining operations, processing, and recycling. Support for research and development is being provided through NMET funding, along with incentives for companies involved in mineral processing and recycling. "Although Rajasthan leads in the auction of major mineral blocks, delays in operationalising these mines due to regulatory clearances remain a challenge," the official said.
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