India’s April-February fiscal deficit at 113.4% of full year target

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New Delhi, March 31 (IANS) India’s fiscal deficit in the April-February period of the current fiscal touched Rs 6.06 lakh crore or 113.4 per cent of Budget estimates for 2016-17 – as against 107.1 per cent of Budget in the same period of last year, government data showed on Friday.

As per the Controller General of Accounts, the deficit, or the gap between expenditure and revenue for the entire current fiscal, has been pegged at Rs 5.34 lakh crore, as compared to the deficit of Rs 5.35 lakh crore in the last fiscal as per revised estimates of 2015-16.

Tax revenue during the period in question yielded Rs 8.85 lakh crore, or 81.3 per cent of the estimates, while total receipts, from revenue and non-debt capital, during the fiscal’s first eleven months, were 11.47 lakh crore, or 77.5 per cent of the estimates for the current year.

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Total expenditure during the April-February period was Rs 17.53 lakh crore, or 87 per cent of the entire fiscal’s estimate. Of the total expenditure, money spent on plan was over Rs 4.81 lakh crore, while non-plan expenditure came to more than Rs 12.71 lakh crore.

The revenue deficit during April-February was over Rs 4.44 lakh crore, or 142.8 per cent, of the estimates.

The government had set the target of restricting the current fiscal’s deficit at 3.5 per cent of the GDP or to Rs 5.34 lakh crore.

–IANS

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