Fiscal deficit at 27% of estimate in first two months of FY13

Written by Press Trust of India | New Delhi | Updated: Jun 30 2012, 08:00am hrs
The Central government's fiscal deficit touched 27% of the the budget estimates (BE) in the first two months of the current financial year, despite increase in revenue receipt.

In absolute terms, the fiscal deficit in the April-May period of the current fiscal stood at R1.41 lakh crore, as per the latest data of the Controller General of Accounts (CGA).

For the full 2012-13 fiscal, the government has budgeted the fiscal deficit at R5.13 lakh crore, or 5.1% of GDP. Last fiscal during the same period, the fiscal deficit was 32% of the BE, amounting to R1.3 lakh crore.

Overall, while the government was able to increase its revenue receipts, on the expenses front too, it was able to cut down, mainly the plan expenditure.

The revenue receipts in the two-month period stood at R47,897 crore, which was 5.1% of the budget estimates.

Total expenditure of the government was R1.90 lakh crore, or 12.8% of the budget estimates.

The revenue deficit was 34% of the budget estimates at R1.18 lakh crore and the primary deficit was 50% of the budget estimates in the April-May period.