Fiscal deficit touches 31.1 pc of annual target at end-August

By: |
September 30, 2021 5:28 PM

The deficit figure in the current fiscal appears much better than the previous financial year when it had soared to 109.3 per cent of the estimates, mainly on account of a jump in expenditure to deal with the COVID-19 pandemic.

As per the data, the central government's total receipts stood at Rs 8.08 lakh crore or 40.9 per cent of the corresponding Budget Estimate (BE) 2021-22 up to August, 2021.As per the data, the central government's total receipts stood at Rs 8.08 lakh crore or 40.9 per cent of the corresponding Budget Estimate (BE) 2021-22 up to August, 2021.

The government’s fiscal deficit stood at Rs 4.68 lakh crore or 31.1 per cent of the Budget estimates at the end of August, as per data released by the Controller General of Accounts (CGA) on Thursday.

The deficit figure in the current fiscal appears much better than the previous financial year when it had soared to 109.3 per cent of the estimates, mainly on account of a jump in expenditure to deal with the COVID-19 pandemic.

In absolute terms, the fiscal deficit or gap between expenditure and revenue was Rs 4,68,009 crore at end of August, the CGA said.

For the current financial year, the government expects the deficit at 6.8 per cent of GDP or Rs 15,06,812 crore.

As per the data, the central government’s total receipts stood at Rs 8.08 lakh crore or 40.9 per cent of the corresponding Budget Estimate (BE) 2021-22 up to August, 2021.

The total receipts were 16.8 per cent of the BE of 2020-21 during the corresponding period of the last financial year.

Of the total receipts, the tax revenue was Rs 6.44 lakh crore or 41.7 per cent of BE. The tax revenue was only 17.4 per cent of BE of 2020-21 in the year-ago period.

The CGA said Centre’s total expenditure was Rs 12.76 lakh crore or 36.7 per cent of BE up to August 2021.

The fiscal deficit for 2020-21 was 9.3 per cent of the Gross Domestic Product (GDP), better than 9.5 per cent projected in the revised estimates in the Budget in February.

Do you know What is India expected to grow 10 pc during current fiscal: NCAER Director General Poonam Gupt,FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India? 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
1India expected to see higher salary with 9.3 pc hike in 2022: Report
2IMF Chief Economist Gita Gopinath to leave job and return to Harvard University
3Meet festive demand, lend liberally, PSBs told