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Govt revises fiscal deficit target for 2017-18 from 3.2% to 3.5% of GDP

Author: IANS/Friday, February 2, 2018/Categories: Economy

Govt revises fiscal deficit target for 2017-18 from 3.2% to 3.5% of GDP

New Delhi, Feb 1 - India's budgetary fiscal deficit for the first nine months of 2017-18 stood at 113.6% -- Rs 6.20 lakh crore -- of the full year's target of Rs 5.46 lakh crore, official data showed on February 1.

The data furnished by the Comptroller General of Accounts (CGA) showed that April-December fiscal deficit was 93.9% of the budget in the same period of the last fiscal.

As per the CGA data, net of tax revenue during the period under review was Rs 9 lakh crore, or 73.4% of the estimated target.

The total receipts -- from revenue and non-debt capital -- during the fiscal's first nine months were Rs 10.78 lakh crore, or 67.4% of the estimates for the current year.

The data revealed that total expenditure -- incurred on revenue and capital -- during the April-December period was Rs 16.98 lakh crore, or at 79.1% of the entire fiscal's estimate.

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

 

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Kavita Giridhar Mallya

IANS

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