|
Interest
Payments by the Union Government
|
| Items |
1996-97 |
1997-98 |
1998-99 |
1999-2000 |
|
(Accounts) |
(RE) |
(RE) |
(BE) |
| 1.
Interest payments on Internal Debt of which: |
27,233 |
31,459 |
39,439 |
45,972 |
a.
On Market Loans
|
19,125 |
22,189 |
28,072 |
34,371 |
b.
On 91/182/364 days Treasury Bills
|
7,003 |
1,982 |
6,270 |
6,469 |
| 2.
Interest on External debt |
4,223 |
4,150 |
4,273 |
4,184 |
| 3.
Interest on Small Savings, Provident Funds, etc. |
16,855 |
20,432 |
21,441 |
26,189 |
| 4.
Interest on Special Deposits of Non-Government Provident Funds
etc. |
10,246 |
8,615 |
9,100 |
10,200 |
| 5.
Interest on Reserve Funds |
378 |
510 |
483 |
426 |
| 6.
Interest on Other Obligations |
543 |
534 |
2,512 |
1,029 |
| Total
Interest Payments (I to VI) |
59,478 |
65,700 |
77,248 |
88,000 |
|
|
|
|
|
|
Source
: RBI Report on Currency and Finance, 1998-99.
|
|
C:19
Estimated Additional Resource Mobilisation thourgh Taxation
By the Central Government : Selected Years.
|
|
1990-91 |
1991-92 |
1992-93 |
1993-94 |
1996-97 |
1997-98 |
1998-99 |
99-2000 |
1.
Income-tax (including Corporation tax)
|
550 |
1429 |
895 |
- |
912 |
- |
2400 |
3100 |
| 2.
Wealth tax |
- |
25 |
- |
- |
- |
- |
- |
- |
| 3.
Customs duties |
835 |
-510 |
-2023 |
-3273 |
950 |
- |
2748 |
1469 |
| 4.
Union excise duties |
390 |
988 |
2211 |
-1249 |
760 |
- |
4290 |
4765 |
| 5.
Central Sales Tax |
- |
- |
- |
- |
- |
- |
- |
- |
| 6.
Tax on foreign travel |
- |
- |
- |
- |
- |
- |
- |
- |
| 7.
Interest tax |
- |
535 |
- |
- |
- |
-600 |
- |
- |
| 8.
Stamp duty & Excise duty on medical and toilet preparations
in Union territories |
- |
- |
- |
- |
- |
- |
- |
- |
| 9.
Hotel receipts tax |
- |
- |
- |
- |
- |
- |
- |
- |
| 10.
Expenditure Tax Act,1987 |
- |
150 |
-100 |
- |
- |
- |
- |
- |
| 11.
Other taxes and duties |
15 |
- |
- |
- |
70 |
900 |
-233 |
- |
| 12.
Total |
1790 |
2617 |
983 |
-4522 |
2692 |
300 |
9025 |
9334 |
|
|
|
|
|
|
|
|
|
| Source
: Rearranged data from Government of India, Ministry of Finance,
Indian Public Finance Statistics, 1990-2000 Table 6.1 |
INDIAN
TAX STATISTICS 1950-2001.
Indian Tax Foundation, New Delhi. p.41.
Note
:- There is no additional mobilization in last 13 years and interest
payment liabilities increased from Rs.21000 crore to Rs.1,25,000
crore per year and debt has increased from about 3 lac crore to
about 17 lac crore. Tax revenue as per G.D.P. is lowest at 8.6%
(see next chart). We have borrowed about Rs.95000 crore for Non-plan
expenditure namely :- Interest Payment, Defence, Pay, Pension, Subsidy
and Grants for last two years. The Plan expenditure is entirely
from the borrowed funds.
|
Central
Government Tax Revenue as per cent of GDP in Selected Developed
and Developing Countries YEAR : 1998
|
|
Countries
(in descending order of Tax-GDP Ratio)
|
Tax-GDP
Ratio
|
Countries
(in descending order of Tax-GDP Ratio)
|
Tax-GDP
Ratio
|
| 1.
Belgium |
43.3 |
12.
Germany |
26.6 |
| 2.
Netherlands |
42.7 |
13.
Australia |
22.9 |
| 3.
France |
39.2 |
14.
Switzerland |
22.0 |
| 4.
Italy |
38.6 |
15.
USA |
20.4 |
| 5.
U.K. |
36.3 |
Developing
Countries |
| 6.
Sweden |
35.8 |
16.
Indonesia |
15.6 |
| 7.
Austria |
34.8 |
17.
Sri Lanka |
14.5 |
| 8.
Norway |
34.1 |
18.
Pakistan |
12.6 |
| 9.
New Zealand |
32.1 |
19.
Nepal |
8.8 |
| 10.
Spain |
28.1 |
20.
India |
8.6 |
| 11.
Finland |
28.1 |
|
|
| Source
: Excerpted from The World Bank, World Development Report,
2000-2001, Table 14 (pp.300-301) From : Indian Tax Statistics,
1950-2001. page 12 |
|
