Government meets 2016-17 fiscal deficit target

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New Delhi, May 31 (IANS) The central government has met its budgeted target of 3.5 per cent fiscal deficit for 2016-17, official data showed on Wednesday.

According to figures released by Controller General of Accounts (CGA), fiscal deficit — the difference between revenue and expenditure — for the last financial year slightly exceeded the budgeted target of Rs 5.35 lakh crore as against the budget estimates of Rs 5.34 lakh crore.

The fiscal deficit target for the last fiscal was pegged at 3.5 per cent, while that for 2017-18 has been set at 3.2 per cent.

The exchequer’s tax revenue during the fiscal under review yielded Rs 14.80 lakh crore, or 97.3 per cent of the estimates. The total expenditure during the April-March 2016-17 period was Rs 20.14 lakh crore, or 98 per cent of the entire fiscal’s estimate.

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