India's April-November fiscal deficit reaches 86 percent of full-year target
The Dollar Business Bureau
India’s fiscal deficit reached the Rs.4.58 lakh crore mark at the end of April-November period, or 85.8% of the budget estimate for the entire fiscal. The situation of fiscal deficit at November-end this financial year was better as compared to the same period a year-ago when the deficit was 87% of the budget estimate.
Fiscal deficit, the difference between revenue and expenditure for the whole fiscal, has been estimated at Rs.5.33 lakh crore, or 3.5% of GDP (Gross Domestic Product), in 2016-17.
According to the data released by Controller General of Accounts (CGA), revenue from taxes came in at Rs.6.21 lakh crore, or 59% of the whole year budget estimate of Rs.10.54 lakh crore.
During the said eight months period, overall receipts of the government from revenue and non-debt capital stood at Rs.7.96 lakh crore, or 57.8% of budget estimate.
The Plan expenditure of the government during the said period stood at Rs.3.64 lakh core, which is 66.2% of the entire year budget estimate. During the same period in the previous year, it was at 64.1%.
In April-November period of 2016-17, the non-Plan expenditure stood at Rs.9.22 lakh crore, which is 64.6% of the full-year budget estimate. The overall expenditure, including Plan and non-Plan, was at Rs.12.86 lakh crore, or 65% of the entire year budget estimate of Rs.19.78 lakh crore.
During the said eight-month period, the revenue deficit was Rs.3.48 lakh crore, which is 98.4% of budget estimate for 2016-17.