Fiscal deficit touches 128.5% of budget estimate at January-end: Govt data

By: |
Published: February 28, 2020 6:18 PM

The government had targeted to restrict the fiscal deficit at Rs 7,66,846 crore during the year ending March 31, 2020.

Total receipts were at 66.4 per cent of RE as against 67.5 per cent in the year-ago period.Total receipts were at 66.4 per cent of RE as against 67.5 per cent in the year-ago period.

India’s fiscal deficit touched 128.5 per cent of the whole year budget target at January-end, said the Controller General of Accounts (CGA) on Friday. The deficit during the same period during 2018-19 was 121.5 per cent of that year’s Revised Budget Estimate (RE).

In actual terms, the fiscal deficit or gap between the expenditure and revenue stood at Rs 9,85,472 crore. The government had targeted to restrict the fiscal deficit at Rs 7,66,846 crore during the year ending March 31, 2020.

While presenting the Union Budget to Parliament earlier this month, Finance Minister Nirmala Sitharaman had raised fiscal deficit target to 3.8 per cent of the GDP from 3.3 per cent pegged earlier for 2019-20 due to revenue shortage.

As per the CGA data on monthly accounts, revenue receipts during April-January were at Rs 12.5 lakh crore or 67.6 per cent of the RE for 2019-20. This compares with 68.3 per cent of the RE in the previous fiscal.

Total receipts were at 66.4 per cent of RE as against 67.5 per cent in the year-ago period.

The CGA further said that total expenditure at January-end was Rs 22.68 lakh crore or 84.1 per cent of RE, higher than 81.5 per cent in the corresponding period of the last fiscal.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Modi’s free food grain scheme reaches doorsteps of poor, migrant labourers amid unprecedented crisis
2Economy opens but migrant labour yet to return; manufacturing in these cities bears maximum brunt
3Foreign trade regulator rejig to cut imports, promote ‘Make in India’ and ‘Ease of Doing Business’