Policy

Q&A in Rajya Sabha: Expenses to promote government schemes crossed ₹8,500 cr in four years, says FinMin

Our Bureau | | Updated on: Dec 14, 2021

Nirmala Sitharaman said collection through central excise duties including cesses collected from petrol and diesel stood at over ₹3.71 lakh crore in FY2020-21

The Finance Ministry on Tuesday informed the Rajya Sabha that the government spent over ₹8,500 crore for promotion of its scheme in four years. In response to another question, it said it got over ₹8,000 crore through levies on petrol and diesel between 2018-19 and 2020-21.

Excise duty collection

In response to a question, Finance Minister Nirmala Sitharaman said in a written reply that collection through the central excise duties including cesses collected from petrol and diesel was over ₹2.10 lakh crore in FY2018-19 which grew to over ₹2.19 lakh crore and over ₹3.71 lakh crore in FY2019-20 and FY2020-21 respectively.

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In a written reply, Minister of State for Finance Pankaj Chaudhary said that the total expenditure incurred by the Union Government on advertisement of its schemes includes advertisements through electronic and print media. According to data collected by the Controller General of Accounts (CGA), this expenditure was over ₹2,700 crore in FY2017-18 which rose to a tad to over ₹2,760 crore in FY2018-19. However, it slipped to little over ₹1,800 crore and further to over ₹1,200 crore in FY2019-20 and 2020-21 respectively.

Panama Papers and Paradise Papers

In response to another question, Chaudhary said that as on October 1, total undisclosed credits amounting to ₹20,353 crore have been detected with respect to 930 India-linked entities in the Panama and Paradise Paper leaks.

“In 52 cases of Panama and Paradise Paper leaks, criminal prosecution complaints have been filed under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. Further, in 130 cases, proceedings under Black Money (Undisclosed Foreign Income and Assets) and Imposition of tax Act, 2015 have been initiated. Taxes collected so far amount to ₹153.88 crore in the Panama and Paradise Paper leaks,” he said.

Income tax collection

On a question related with income tax collection, Chaudhary said in a written reply that as of December 7, a total of over ₹7.39 lakh crore was collected as net tax which is over 78 per cent of the net collection (over ₹9.45 lakh crore) in FY2020-21. Personal Income tax collection crossed over ₹3.61 lakh crore while corporation tax was at a little over ₹3.62 lakh crore. Securities Transaction Tax (STT) yielded over ₹15,000 crore.

Unclaimed funds with financial institution

Replying to a question on unclaimed funds, Sitharaman said as on December 31, 2020, the total number of dormant accounts in scheduled commercial banks (SCBs) was over 8.13 crore with amounts of over ₹24,000 crore. Similarly, the number of accounts not operated for more than 10 years and the amount in such accounts with urban co-operative banks (UCBs) was 77,03,819 and ₹2,341 crore respectively.

“The total amount of unclaimed deposits in life insurance companies as on March 31, 2021 was ₹22,043.26 crore, and the total amount of unclaimed deposits in non-life insurance companies was ₹1,241.81 crore,” she said. The amount lying unclaimed with mutual funds was around ₹1,600 crore, she said.

Published on December 14, 2021
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