Fiscal deficit in April-October at 79.3% of full year estimate

India's fiscal deficit during the seven months to October was Rs 4.24 trillion (USD 61.91 billion), or 79.3 percent of the budgeted target for the fiscal year ending in March 2017, government data showed on Wednesday.  

Reuters| Updated: Nov 30, 2016, 16:39 PM IST
Fiscal deficit in April-October at 79.3% of full year estimate

New Delhi:  Fiscal deficit in the first seven months of 2016-17 reached the Rs 4.23 lakh crore mark, or 79.3 percent of the budget estimate (BE) for the whole year.

The fiscal situation in April-October worsened over the year-ago period as the deficit then stood at 74 percent of BE.

Fiscal deficit, the gap between expenditure and revenue for the entire fiscal, has been pegged at Rs 5.33 lakh crore, or 3.5 percent of GDP, in 2016-17.

As per data released by the Controller General of Accounts, tax revenue came in at Rs 5.30 lakh crore, or 50.3 percent of the full-year BE of Rs 10,54,101 crore.

Total receipts from revenue and non-debt capital of the government during the first seven months read Rs 7.27 lakh crore.

The government's Plan expenditure during the period came in at Rs 3.41 lakh core, 62 percent of the full-year BE.

During the same period last year, the government had managed to achieve 58.2 percent of Plan expenditure estimate.

The non-Plan expenditure during April-October of 2016-17 was Rs 8.09 lakh crore, or 56.7 percent, of the whole-year estimate.

The total expenditure (Plan and non-Plan) was Rs 11.50 lakh crore as against the government's estimate for the current fiscal at Rs 19.78 lakh crore.

The revenue deficit during the seven months stood at Rs 3.27 lakh crore, or 92.6 percent of BE for 2016-17.