What to make of the missing INR 1.7lakh crore in Budget

Modi govt used revised estimates for FY19 in Budget for FY20 rather than provisional actual numbers. That’s standard practice in election year budgets.

The Modi government used the revised estimates for 2018-19 in its budget for 2019-20 rather than the provisional actual numbers. The move came even as the Economic Survey provided the provisional estimates of net tax collections at Rs 13.16 lakh crore as against the revised tax revenue projections of Rs 14.84 lakh crore.

But the main reason underlying the criticism is the stark variation in the revised and the actual numbers.

The variation between the revised estimates and the actual tax collections was more than Rs 1.67 lakh crore, the highest ever.

The shortfall reported in 2018-19 is more than double the shortfall reported in all the previous ten years put together.

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