1. India’s fiscal deficit widens, hits 96.1% of full-year target

India’s fiscal deficit widens, hits 96.1% of full-year target

The Centre’s fiscal deficit during the first seven months (April-October) of the current fiscal was Rs 5.25 lakh crore, or 96.1% of the budgeted target for the current fiscal year that ends in March 2018, higher than Rs 4.99 lakh crore till the previous month. The country’s fiscal deficit for the April-October period is just a little […]

By: | Updated: November 30, 2017 3:23 PM
The Centre’s fiscal deficit during the first seven months (April-October) of the current fiscal was Rs 5.25 lakh crore

The Centre’s fiscal deficit during the first seven months (April-October) of the current fiscal was Rs 5.25 lakh crore, or 96.1% of the budgeted target for the current fiscal year that ends in March 2018, higher than Rs 4.99 lakh crore till the previous month. The country’s fiscal deficit for the April-October period is just a little shy of Rs 5.47 lakh crore that the government has budgeted for the entire year.

The deficit was 79.3% of the full-year target during the same period a year ago. The net tax receipts in the first seven months the fiscal year were Rs 6.34 lakh crore, government data showed on Thursday. The government aims to restrict the deficit to 3.2% of GDP in the current fiscal as against 3.5% in 2016-17.  In absolute terms, 3.2% deficit for the current fiscal works out to nearly Rs 5.47 crore.

The CGA data showed that the government’s revenue receipts were at Rs 7.29 lakh crore in the seven months of the current fiscal, which work out to 48.1 per cent of the budget estimate (BE) of Rs 15.15 lakh crore for the entire year. The receipts, comprising taxes and other items, were at 50.7 per cent of the target in the year-ago period.

As per the data, the government’s total expenditure was Rs 12.92 lakh crore at October-end, or 60.2 per cent of the
budget estimate. It was 58.2 per cent of the budget estimate a year ago.Capital expenditure during April-October of 2017-18 was only 52.6 per cent of the BE compared to 50.7 per cent in the same period of the previous fiscal.
Revenue expenditure, including interest payment, was 61.5 per cent of the BE during April-October 2017-18. This compares with 59.2 per cent a year earlier.

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