1. India’s fiscal deficit reaches 74 pc of full-year target in July at Rs 3.93 lakh cr

India’s fiscal deficit reaches 74 pc of full-year target in July at Rs 3.93 lakh cr

The fiscal deficit during April-July 2015-16 was 69.3 per cent of the Budget estimates. Fiscal deficit, which is the gap between expenditure and revenue for the entire current fiscal, has been pegged at Rs 5.33 lakh crore or 3.5 per cent of GDP.

By: | New Delhi | Updated: August 31, 2016 5:19 PM
Indian rupee vs US dollar The deficit was 69.3 percent during the same period a year ago. (Reuters Photo)

Fiscal deficit in the first four months of the current financial year stood at Rs 3.93 lakh crore, or 73.3 per cent of the Budget estimates for 2016-17.

The fiscal deficit during April-July 2015-16 was 69.3 per cent of the Budget estimates. Fiscal deficit, which is the gap between expenditure and revenue for the entire current fiscal, has been pegged at Rs 5.33 lakh crore or 3.5 per cent of GDP.

Net tax receipts in April-July period of 2016-17 stood at Rs 2.22 lakh crore, according to Controller General of Accounts (CGA) data. Mop-up from non-tax revenue, which includes interest receipts and dividend, was lower at Rs 34,098 crore or 10.6 per cent of BE. It was 24.9 per cent on BE at the end of July 2015-16 fiscal year.

Total receipts (from revenue and non-debt capital) of the government during the four months was Rs 2.63 lakh crore or 18.2 per cent of the estimates for the current year. Total expenditure of the government during April-July was nearly Rs 6.57 lakh crore, or 33.2 per cent of the entire year estimates.

Of the total expenditure, plan spending was over Rs 1.98 lakh crore and non-plan was over Rs 4.59 lakh crore. The revenue deficit during the four months was over Rs 3.30 lakh crore, or 93.1 per cent of the estimates, Controller General of Accounts (CGA) data showed.

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