Fiscal deficit touches 75 per cent of budget estimates in August

Posted By:

Fiscal deficit touches 75 per cent of budget estimates in August
New Delhi: Fiscal deficit touched 74.9 percent of the Budget Estimates for 2014-15 to cross Rs 3.97 lakh crore at the end of August.

At the end of August in the 2013-14 fiscal, the deficit was 74.6 percent of the Budget Estimates (BE).

The data released by the Controller General of Accounts Tuesday showed that the total expenditure of the government during April-August was over Rs 6.72 lakh crore or 37.5 percent of the estimates for the entire 2014-15 fiscal.

Of the total expenditure, Plan spending was over Rs 1.77 lakh crore. Under non-plan head, it was Rs 4.95 lakh crore.

Revenue collection was over Rs 2.7 lakh crore or 22.7 percent of the BE.

Total receipts (from revenue and non-debt capital) of the government during the five months was over Rs 2.74 lakh crore.

The data showed that the revenue deficit during the period was over Rs 3.24 lakh crore or 85.8 percent of the BE.

The fiscal deficit was over Rs 5.08 lakh crore or 4.5 percent of GDP in 2013-14. It was 4.9 percent in 2012-13.

For entire 2014-15, fiscal deficit - gap between government expenditure and revenue - for the whole fiscal has been pegged at Rs 5.31 lakh crore or 4.1 percent of GDP.

The government had put in place a fiscal consolidation roadmap as per which the fiscal deficit has to be brought down to 3 percent of the GDP by 2016-17.


Read more about: fiscal deficit
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?