Fiscal deficit in the first month of the current financial year touched 24.3 per cent of the budget estimates on account of higher revenue and lower expenditure. Fiscal Deficit, which is the difference between total revenue and expenditure, was higher at 37.6 per cent in April of last fiscal. During the month, the government has received Rs 71,450 crore (3.93 per cent of corresponding budget estimates (BE) for 2018-19 for total receipts), as per the data released by the Controller General of Accounts (CGA). This comprises Rs 57,533 crore on account of tax revenue, Rs 13,124 crore of non-tax Revenue and Rs 793 crore of non debt capital receipts. Non Debt Capital Receipts consists of Recovery of Loans (Rs 359 crore) and PSU disinvestment (Rs 434 crore). Total Expenditure incurred by the government was Rs 2,23,417 crore (9.15 per cent of corresponding BE 2018-19). Of this, over Rs 1.76 lakh crore is on Revenue Account and Rs 46,703 crore is on Capital Account. "Rs 55,789 crore has been transferred to state Governments as Devolution of Share of Taxes by Government of India in this period, which is Rs 7,611 crore higher than the corresponding period of last year 2017-18," an official statement said. The government had budgeted to cut fiscal deficit to 3.3 per cent of GDP in current fiscal, from 3.53 per cent of GDP in 2017-18.