India’s April-Aug fiscal deficit reaches 76 pc of full-year target

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New Delhi | Updated: Sep 30, 2016 6:48 PM

India's fiscal deficit during the five months to August was 4.08 trillion rupees ($61.3 billion) or 76.4 percent of the budgeted target for the fiscal year ending in March 2017, government data showed on Friday.

India's fiscal deficit during the five months to August was 4.08 trillion rupees ($61.3 billion) or 76.4 percent of the budgeted target for the fiscal year ending in March 2017, government data showed on Friday.(Reuters)India’s fiscal deficit during the five months to August was 4.08 trillion rupees ($61.3 billion) or 76.4 percent of the budgeted target for the fiscal year ending in March 2017, government data showed on Friday.(Reuters)

Fiscal deficit in the first five months of the current fiscal stood at Rs 4.08 lakh crore, which was 76.4 per cent of Budget estimates for 2016-17.

The fiscal situation in April-August showed deterioration over the corresponding period of the previous year as the deficit then stood at 66.5 per cent of the Budget estimates. Fiscal deficit, which is the gap between expenditure and revenue for the entire current fiscal, has been pegged at Rs 5.33 lakh crore or 3.5 per cent of GDP.

As per the data released by the Controller General of Accounts, tax revenue was Rs 2.80 lakh crore, or 26.6 per cent of the estimates.

Total receipts (from revenue and non-debt capital) of the government during the first five months came in at Rs 3.93 lakh crore, or 27.3 per cent of the estimates for the current year.

Total expenditure of the government in April-August was nearly Rs 8.01 lakh crore, or 40.5 per cent of the entire year estimate.

Of the total expenditure, plan spending was over Rs 2.36 lakh crore and non-plan over Rs 5.64 lakh crore.

The revenue deficit during the five months was over Rs 3.25 lakh crore, or 91.8 per cent, of the estimates, the CGA data showed.

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