Govt contains FY15 fiscal deficit at 4%, betters revised estimate

The government has managed to restrict fiscal deficit for FY15 at 4% of GDP, lower than the revised estimate of 4.1%...

New Delhi

May 18, 2015 00:41 IST

The government has managed to restrict fiscal deficit for FY15 at 4% of GDP, lower than the revised estimate of 4.1% announced in February, helped by a lower-than-estimated revenue deficit and by limiting both plan and non-plan spend, say latest figures from the finance ministry.

A statement from the ministry attributed the improvement in key fiscal indicators to the “result of prudent policies and (the government’s) commitment to fiscal consolidation.”

Fiscal deficit at the end of FY15 stood at Rs 5,01,880 crore, which is 98% of the revised estimate for the fiscal. The gap between the government’s receipts and spending, which is met by borrowings, had been at 4.4% for 2013-14.

Revenue deficit at the end of FY15 stood at Rs 3,58,306 crore, which accounted for 2.8% of the GDP against the revised estimate of 2.9%. Revenue deficit for fy14 had stood at 3.2%.

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This article was first uploaded on May eighteen, twenty fifteen, at forty-one minutes past twelve in the am.