India’s April-July fiscal deficit at 92% of full year target

India’s April-July fiscal deficit stood at 92.4 per cent — or Rs 5.05 lakh crore — of the full year Budget target of Rs 5.46 lakh crore, official data showed here on Thursday.

The data furnished by the Comptroller General of Accounts (CGA) showed that April-July fiscal deficit was 73.7 per cent of the Budget in the same period of the last fiscal.

The 2017-18 deficit — the difference between revenue and expenditure — has been pegged at Rs 5.46 lakh crore for 2017-18, as compared to the deficit of Rs 5.34 lakh crore for the last fiscal.

According to the CGA data, tax revenue during the period under review was Rs 2.57 lakh crore, or 21 per cent of the estimates, while total receipts — from revenue and non-debt capital — during the fiscal’s first four months were Rs 3.03 lakh crore, or 19 per cent of the estimates for the current year.

The data revealed that total expenditure during the April-July period was Rs 8.08 lakh crore, or 37.7 per cent of the entire fiscal’s estimate. The revenue deficit during the period under review was over Rs 4.22 lakh crore, or 131.2 per cent, of the estimates.

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