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    WHAT ARE NON-DEBT CAPITAL RECEIPTS (NDCR)


    Taxes and duties levied by the government form the biggest source of its income or receipts. The government spends this money on both operational and developmental needs. Usually, there are two main sources of the government’s income — revenue receipts and capital receipts.
     
    Revenue receipts comprise both tax and non-tax revenues, while capital receipts consist of capital receipts and non-debt capital receipts. Non-debt capital receipts (NDCR) account for just 3 per cent of the government’s total receipts.
     
    The Union government usually lists non-debt capital receipts in two categories — recovery of loans, and other receipts. Other receipts basically mean disinvestment proceeds from the sale of the government’s share in public-sector companies.
     
    At a detailed level, the government divides non-debt capital receipts into more than a dozen sub-heads.
     
    There are two types of non-debt capital receipts, recoveries of loans and advances, and miscellaneous capital receipts.
     
    The recoveries of loans and advances include recovery of loans and advances from state governments and Union Territories with legislature, recovery of loans given to foreign governments, recovery of loans and advances from PSUs and other autonomous bodies.
     
    In miscellaneous capital receipts, proceeds from disinvestment in public-sector undertakings are included. The government classifies disinvestment proceeds into four sections:
    • Disinvestment receipts
    • Strategic disinvestment
    • Listing of PSUs in stock markets and
    • Issue of bonus shares
     
    Over the years, disinvestment has become the main source of the Union government’s non-debt capital receipts.
     

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