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Fiscal deficit overshoots full-year revised estimate in January

India had outlined a fiscal deficit target of 3.3 per cent of GDP in 2018-19 as against a revised estimate of 3.5 per cent in 2017-18.

PTI|
Updated: Feb 28, 2018, 07.33 PM IST
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Watch: April-Jan fiscal deficit touches 113.7 pct of full-year target
Watch: April-Jan fiscal deficit touches 113.7 pct of full-year target
NEW DELHI: India's fiscal deficit touched Rs 6.77 lakh crore at the end of January, 113.7 per cent of the target for the entire fiscal, on account of higher expenditure.

The fiscal deficit, reflection of government borrowings to meet revenue-expenditure gap, was 113.7 per cent in the 10-month period of 2017-18 as compared to 105.7 per cent in the year-ago period.

Fiscal deficit had been pegged at Rs 5.33 lakh crore, or 3.5 per cent of the GDP, for the current fiscal ending March 31.

The figure was revised to Rs 5.95 lakh crore in the Union Budget 2018-19, presented in Parliament earlier on February 1.

As per data released by the Controller General of Accounts (CGA), the revenue deficit during the April-January period of 2017-18, at Rs 4.80 lakh crore works out to 109.2 pr cent of the revised budget estimate.

It was 129.9 per cent in the corresponding period of the last financial year.

Net tax receipts in the first 10 months of 2017-18 fiscal were 9.7 lakh crore.

Total receipts from revenue and non-debt capital of the government during the period amount to Rs 11.63 lakh crore or 71.7 per cent of revised estimate.

The government's revenue expenditure during the current fiscal till January came in at Rs 15.75 lakh crore, 81 per cent of the full-year revised estimate.

The capital expenditure was Rs 2.64 lakh crore, or 96.9 per cent, of the full-year revised estimate.

The total expenditure was Rs 18.39 lakh crore,83 per cent of the government's full-year estimate of Rs 22.17 lakh crore.

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