1. Apr-Jul fiscal deficit at 69.3% of Budget estimates

Apr-Jul fiscal deficit at 69.3% of Budget estimates

The fiscal deficit in the first four months of current financial year stood at Rs 3.85 lakh crore, or 69.3 per cent of Budget estimates for 2015-16...

By: | New Delhi | Updated: August 31, 2015 6:16 PM
fiscal deficit

India’s fiscal deficit was Rs 3.85 trillion during April-July, or 69.3 per cent of the full-year target, government data showed.

The fiscal deficit in the first four months of current financial year stood at Rs 3.85 lakh crore, or 69.3 per cent of Budget estimates for 2015-16, as government stepped up its plan expenditure.

The fiscal deficit during April-July 2014-15 was 61.2 per cent of the Budget estimates.

The fiscal deficit — gap between expenditure and revenue — for the entire current fiscal has been pegged at Rs 5.55 lakh crore.

Net tax receipts in April-July period of 2015-16 stood at Rs 1.54 lakh crore.

Total expenditure of the government during April-July was nearly Rs 6 lakh crore, or 33.8 per cent of the entire year estimates.

Of the total expenditure, plan spending was over Rs 1.57 lakh crore and non-plan was over Rs 4.43 lakh crore.

The revenue deficit during the four months was over Rs 3.05 lakh crore, or 77.6 per cent of the estimates, Controller General of Accounts (CGA) data showed.

For the 2015-16 fiscal, the government aims to restrict fiscal deficit to Rs 5.55 lakh crore, or 3.9 per cent of the GDP.

The fiscal deficit was Rs 5.01 lakh crore, or 4 per cent of GDP, in 2014-15, down from 4.1 per cent pegged in the revised estimate.

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