Centre to daily monitor revenue receipts, expenses to check fiscal deficit

From March 1 onwards, the finance ministry has begun monitoring of revenue receipts like tax collections and even expenses, to control fiscal deficit in the current fiscal.

"In order to keep a close track of receipts, expenditure and involving fiscal position of the central government in the month of March, 2023, it is necessary to have updated information on a day-to-day basis," the Controller General of Accounts (CGA) under the finance ministry said in an office memorandum dated March 1.

The daily monitoring of tax and non-tax revenue collections will help in timely corrective actions, sources said.

The ministry has also asked the Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) to report latest figures.

Disinvestment receipts would also have to be reported on a daily basis, as per the memorandum.

--IANS

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