The overall fiscal situation of the government, however, showed an improvement. The fiscal deficit during the period amounted to 43.9 per cent of the budget estimate for 2002-03 as against 50.4 per cent during the corresponding period last year.
As per figures released by the Controller General of Accounts (CGA), the improvement has been mainly on account of higher revenue realisation as compared with the previous year. During the first four months revenue receipts totalled Rs 42,470 crore as against Rs 32,328 crore in the corresponding period last year.
Total receipts during April-July amounted to Rs 50,198 crore as compared to Rs 35,705 crore during the corresponding period last year.
Total expenditure during the four-month period was Rs 1,09,725 crore (26.7 per cent of the budget amount) as against Rs 94,333 crore (25.1 per cent) during the corresponding period last year.
The revenue deficit during the period was up at Rs 59,527 crore as compared to Rs 46,377 crore in the corresponding period last year. Primary deficit was down to Rs 23,957 crore from Rs 28,831 crore at the end of July 2002.