Monthly Review of Accounts of the Government of India upto May 2024 (FY2024-25)
28th June 2024
The Monthly Account of the Government of India (Consolidated Fund + Contingency Fund + Public Account) upto the month of May 2024 has been consolidated and reports published. The highlights are given below:-
The Government of India has received ₹5,72,845 crore (18.6% of corresponding BE 2024-25 of Total Receipts) upto May 2024 comprising ₹3,19,036 crore Tax Revenue (Net to Centre), ₹2,51,722 crore of Non-Tax Revenue and ₹2,087 crore of Non-Debt Capital Receipts, on account of Recovery of Loans. ₹1,39,751 crore has been transferred to State Governments as Devolution of Share of Taxes by the Government of India upto this period which is ₹21,471 crore higher than the previous year.
Total Expenditure incurred by the Government of India is ₹6,23,460 crore (13.1% of corresponding BE 2024-25), out of which ₹4,79,835 crore is on the Revenue Account and ₹1,43,625 crore is on the Capital Account. Out of the Total Revenue Expenditure, ₹1,23,810 crore is on account of Interest Payments and ₹54,688 crore is on account of Major Subsidies.
NOTE: – The Government accounts of a year may be kept open for a certain period in the following year for completion of the various accounting processes inter alia in respect of the transactions of March, for carrying out certain inter-departmental adjustments, and for closing the accounts of several Provident Funds and Suspense heads. Adjustments may also be made after the close of the year for the rectification of mis-postings and mis-classifications coming to notice after the 31st of March. An actual cash transaction taking place after 31st March, should not, however, be treated as pertaining to the previous financial year even though the accounts for that year may be open for the purposes mentioned above.
Currency in which Accounts are kept The accounts of the Government shall be maintained in Indian currency i.e. rupees. All transactions of the Central and State Governments taking place in other countries shall be passed on monthly by the Indian Embassies/Missions to India and brought to account finally in the Indian books after they have been converted into rupees.
