CAG Reports Significant Decrease in Net Revenue Surplus and Decline in Share of Internal Resources in Total Capital Expenditure
In the same period, the appropriation to Depreciation Reserve Fund decreased significantly by 68 percent in 2017-18. Under provisioning for depreciation resulted in piling up of ‘throw forward’ of works estimated at Rs. 1, 01,194 crore.
New Delhi, December 2: The Comptroller and Auditor General of India (CAG), which audits all receipts and expenditure of the Government of India and the state governments, said in its report that the net revenue surplus decreased by 66.10 percent from Rs 4,913 crore in 2016-17 to Rs 1,665.61 crore in 2017-18. The share of internal resources in total capital expenditure also decreased to 3.01% in 2017-18, said reports. GST Collection For November Estimated to Cross Rs 1 Lakh Crore, Signals Recovery After 3-Month Decline.
In the same period, the appropriation to Depreciation Reserve Fund decreased significantly by 68 percent in 2017-18. Under provisioning for depreciation resulted in piling up of ‘throw forward’ of works estimated at Rs. 1, 01,194 crore. GST Cannot be 'Damned' Now Despite Possible Flaws, Says Finance Minister Nirmala Sitharaman; Watch Video.
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The report comes after the India’s economic growth slipped further to hit an over-six-year low of 4.5 per cent in the July-September quarter, according to official data released on Friday.
The only silver lining is that the Goods and Services Tax (GST) collection for the month of November is estimated to cross Rs 1 lakh crore. The likely upsurge - as reports have predicted citing revenue department officials - comes in the backdrop of a three-month decline. It would also signal a positive movement in the economy, which has decelerated to a six-year low.
(The above story first appeared on LatestLY on Dec 02, 2019 02:42 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).