Budget

Revenue Receipts

I now turn to the revenue receipts.

Gross tax revenues at the existing rates of taxation are estimated at Rs 1,53,347 crore. After providing Rs 40,254 crore as the States'share of taxes, the Centre's net tax revenue will be Rs 113,094 crore. Non-tax revenues have also shown healthy buoyancy. The receipts under the head are expected to he Rs 39,749 crore in 1997-98. I have taken credit for Rs 3681 crore as license fee from private operators of cellular and basic telecom services.

The net revenue receipts for the Centre, including non-tax receipts, are expected to increase from Rs 130,783 crore in RE 1996-97 to Rs 152,843 crore uk 1997-98.

In the area of capital receipts, market borrowings are placed at Rs 34,425 crore. Net external assistance will be Rs 2435 crore. I am also taking credit for receipts from disinvestment of equity in public sector enterprises of Rs 4800 crore. Total receipts at the existing rates of taxation are estimated at Rs 231,876 crore. I shall come to the gross fiscal deficit in Part B of my speech.