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April-January fiscal deficit at 105.7% of full-year target

Author: IANS/Wednesday, March 1, 2017/Categories: Government

April-January fiscal deficit at 105.7% of full-year target

New Delhi (IANS) - India's fiscal deficit in the April-January of 2016-17 touched Rs 5.64 lakh crore or 105.7% of Budget estimates for 2016-17 - as against 95.8% of Budget in the same period of last year, government data showed. 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.
 
The exchequer's tax revenue during the period in question yielded Rs 8.16 lakh crore, or 77.4% of the estimates, while total receipts, from revenue and non-debt capital, during the fiscal's first ten months, were 10.53 lakh crore, or 72.9% of the estimates for the current year.

Total expenditure during the April-January period was Rs 16.18 lakh crore, or 81.8% of the entire fiscal's estimate. Of the total expenditure, money spent on plan was over Rs 4.43 lakh crore, while non-plan expenditure came to more than Rs 11.74 lakh crore.

The revenue deficit during April-January was over Rs 4.05 lakh crore, or 114.4%, of the estimates. The government had set the target of restricting the current fiscal's deficit at 3.5% of the GDP or to Rs 5.34 lakh crore.

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S Vijaykrishnan
S Vijaykrishnan

IANS

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