Fiscal deficit in the first quarter of the current fiscal was Rs 4.42 lakh crore or 80.8 per cent of Budget Estimates for 2017-18, much higher than in the year-ago period.
Fiscal deficit in the first quarter of the current fiscal was Rs 4.42 lakh crore or 80.8 per cent of Budget Estimates for 2017-18, much higher than in the year-ago period. The fiscal deficit situation during April-June of the last fiscal was 61.1 per cent. The government aims to restrict the deficit to 3.2 per cent of GDP in the current fiscal as against 3.5 per cent in 2016-17. In absolute terms, 3.2 per cent deficit for the current fiscal works out to Rs 5,46,532 crore. As per the data released by the Controller General of Accounts, tax revenue was Rs 1,77,337 crore or 14.5 per cent of the estimate.
Total receipts (from revenue and non-debt capital) of the government during the April-June quarter was Rs 2,09,046 crore or 13.1 per cent of the estimates for the current year. It was 12.8 per cent of the estimates for 2016-17. Total expenditure of the government during April-June was Rs 6,50,731 crore or 30.3 per cent of the entire year estimates. The revenue deficit during the three month period was over Rs 3,83,101 crore or 119.1 per cent of the estimates, CGA data showed. Revenue deficit refers to shortfall in total government revenue realisation from the targeted figure.