Revenue deficit too has shown a marked improvement and is down to 78.8% of the BE at Rs 66,777 crore as compared to 83.6% till December 2005, according to figures released by the Comptroller General of Accounts on Wednesday.

The figures reflect the government’s confidence of achieving its deficit targets for this year.

In the mid-term review of the economy, finance minister P Chidamabram had said he was confident of achieving the fiscal deficit target and had set the next fiscal’s target at 3.4% of the GDP.

The figures reveal that fiscal deficit has shown a 12.4% year-on-year improvement, while revenue deficit has shown a 16.19% year-on-year improvement. Meanwhile, Tax revenue has increased by 37.6% to stand at Rs 2,32,171 crore till December this year as compared to Rs 1,68,715 crore for the same period last fiscal. The government’s expenditure is, however, below target to stand at Rs 3,32,499 crore as compared to Rs 3,83,721 crore till December last year.