India's April-May fiscal deficit at 55.3% of full year's target

The data furnished by the Comptroller General of Accounts (CGA) showed that fiscal deficit during the like period of the previous fiscal had stood at 68.3 per cent.

India's April-May fiscal deficit at 55.3% of full year's target

New Delhi: India`s budgetary fiscal deficit for April-May 2018-19 stood at 55.3 per cent -- Rs 3.45 lakh crore -- of the full year`s target of Rs 6.24 lakh crore, official data showed on Friday.

The data furnished by the Comptroller General of Accounts (CGA) showed that fiscal deficit during the like period of the previous fiscal had stood at 68.3 per cent.

According to the CGA data, net of tax revenue during the period under review was Rs 1.02 lakh crore, or 6.9 per cent of the estimated target.

The total receipts -- from revenue and non-debt capital -- during the fiscal`s initial two months were Rs 1.27 lakh crore, or seven per cent of the estimates for the current financial year.

The data revealed that total expenditure -- incurred on revenue and capital -- during the April-May period was Rs 4.72 lakh crore, or at 19.4 per cent of the entire fiscal`s estimate.

The 2018-19 deficit -- the difference between revenue and expenditure -- has been pegged at Rs 6.24 lakh crore, as compared to the revised estimates of Rs 5.94 lakh crore for the previous fiscal.

 

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