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New Delhi: Finance minister Arun Jaitley on Monday launched a portal to electronically collect over ₹ 2 trillion annually in non-tax receipts from sources such as dividends by state-owned firms, the Reserve Bank of India and spectrum fee.
“This (portal) has its own advantages and it will reduce a lot of manual work now,” Jaitley said while inaugurating the non-tax receipt portal (NTRP) which was developed by the controller general of accounts (CGA).
State-owned NTPC Ltd remitted an interim dividend of ₹ 989 crore to the government through the electronic mode on Monday. The annual collection of non-tax receipts amounts to over ₹ 2 lakh crore.
It mainly includes dividends, interest receipts, spectrum charges, royalty, licence fee, sale of forms and application fees under the Right to Information Act.
As per the budget, the government aims to collect over ₹ 2.21 trillion as non-tax receipts during fiscal 2016. Earlier in the day, the finance ministry tweeted, “Annual collection of non tax receipts is over ₹ 2 lakh crore. Biggest share flows from dividends paid by Public Sector Undertakings, RBI.”
Jaitley further said that it is “an important occasion when the office of the CGA has now started using technology and created a receipts portal for all the payments into the Consolidated Fund of India”.
NTRP provides a one-stop platform to citizens or corporates or other users to make online payment of non-tax receipts to the Union government. While taxes are largely collected using the e-payment mode, non-tax revenues flow mainly through physical instruments such as bank draft or cheque or cash.
“The online electronic payment will help common users/citizens from the hassle of visiting bank premises for issue of drafts, and later to government offices to deposit the instrument for availing services,” a finance ministry statement said.
“It also helps avoidable delays and remittance of these instruments into government account as well as eliminate undesirable practices in the delayed deposit of these instruments into bank accounts,” it said.
Online payments can be made by using either a credit card, a debit card or through Internet banking. For fiscal 2016, ₹ 1,00,651 crore has been budgeted from dividends. Of this ₹ 36,174 crore is estimated to come from central public sector enterprises and ₹ 64,477 crore from banks, financial institutions and RBI. The ministry has already received a dividend of ₹ 65,896 crore from the RBI. PTI
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