Non-Plan revenue exceeds target

NON-TAX REVENUE: High dividend payouts buoy non-tax revenues to Rs 1,93,225.71 cr

The Government’s revenues from non-tax segment exceeded the target by 12.17 per cent at Rs 1,93,225.71 crore as per RE for 2013-14, mainly on the back of higher dividend payouts by public enterprises and increased revenues from economic services.

It had earlier budgeted for non-tax revenues of Rs 1,72,252.38 crore for 2013-14. The total dividends and profits from public sector enterprises stood at Rs 88,187.93 crore in RE 2013-14, against Rs 73,866.36 crore for 2013-14. About Rs 40,847.06 crore came from other communication services,  mainly from the one time spectrum charges levied on telecom players.

Disinvestment of government’s remaining stake in Hindustan Zinc and Balco will happen next fiscal, Economic Affairs Secretary Arvind Mayaram said. Government holds 29.54 per cent stake in Hindustan Zinc and 49 per cent stake in Balco, both controlled by Vedanta’s Anil Agarwal. In addition, for 2014-15, total miscellaneous capital receipts, coming mainly from disinvestment and divestment of government stake in non-government companies, has been fixed at Rs 51,925 crore.

According to RE 2013-14, the government could garner only Rs 25,841 crore against a target of Rs 55,814 crore.

The government has reduced its target to Rs  3,000 crore for the current  fiscal RE from earlier estimates of Rs 14,000 crore from selling  stakes in non-government companies. The target for 2014-15 is Rs 15,000 crore.

For 2014-15, the government has budgeted non-tax revenues of Rs 1,80,713.64 crore — 6.5 per cent lower than the actual revised numbers for 2013-14. The target for non-tax revenues from dividends and profits from public sector enterprises in the next fiscal is Rs 77,229.28 crore. From communication services, the government proposes to earn Rs 38,954.02 crore. Both are lower compared to the revised numbers for 2013-14.