The Centre’s fiscal deficit during the first five months (April-August) of the current fiscal was 96.1% of the Budget estimates at Rs 5.25 lakh crore, much higher than in the same duration a year ago. The fiscal deficit situation during April-August of the last fiscal was 76.4%. The revenue deficit of the government during the April-August period was Rs 4.31 lakh crore and revenue spending was Rs 9.5 lakh crore.
The government’s Budget estimate for the current fiscal for revenue deficit was Rs 3.25 lakh crore and revenue spending was Rs 8.02 lakh crore. The capital spending of the government was Rs 1.1 lakh crore against Budget estimate of Rs 91,300 crore for the current fiscal. The tax mop-up stood at Rs 5.83 lakh crore against the Budget estimate of Rs 4.86 lakh crore.
The tax revenue of the government for the first five months was Rs 3.4 lakh crore, 27.28% of the Budget estimates, while the non-tax revenue was Rs 69,256 crore, 24% of the Budget estimates of Rs 84,432 cr.
The government had aimed to restrict the deficit to 3.2% of GDP in the current fiscal as against 3.5% in 2016-17. In absolute terms, 3.2% deficit for the current fiscal works out to nearly Rs 5.47 crore, PTI reported in July. Until July, the fiscal deficit was Rs 4.42 lakh crore or 80.8% of Budget estimates.