Government meets 2017-18 fiscal deficit target

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New Delhi, May 31 (IANS) The central government broadly met its revised fiscal deficit target of 3.5 per cent for the financial year 2017-18, official data showed here on Thursday.

According to figures released by the Controller General of Accounts (CGA), the fiscal deficit — the difference between revenue and expenditure — for the last financial year stood at 3.53 per cent of the country’s GDP.

As per the provisional CGA data, the deficit reached Rs 5.91 lakh crore as against the revised estimates of Rs 5.94 lakh crore.

In budget 2018-19, Finance Minister Arun Jaitley revised the fiscal deficit target to 3.5 per cent from 3.2 per cent.

Besides, the data showed that the exchequer’s total receipts during the fiscal under review yielded Rs 15.51 lakh crore, or 95.6 per cent of the estimates.

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In addition, the total expenditure during the April-March 2017-18 period was Rs 21.42 lakh crore, or 96.6 per cent of the entire fiscal’s estimate.

–IANS

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