Fiscal deficit in April-February at 114.3% of full year target

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Fiscal deficit in April-February at 114.3% of full year target
The Fiscal deficit widened to Rs 5,99,299 crore in the April-February period of 2013-14, or 114.3 percent of the target for the fiscal.

The deficit, which is the gap between expenditure and revenue, was 97.4 percent during April-February a year ago.

The government in the interim budget in February had revised the target for full year fiscal deficit to Rs 5,24,539 crore or 4.6 percent of the GDP from 4.8 percent of the GDP earlier.

According to the Controller General of Accounts (CGA), net tax receipts were at Rs 6,27,134 in the first 11 months of 2013-14 fiscal, while total expenditure was about Rs 13,99,757 crore.

The revenue deficit at Rs 4,34,378 crore at the end of February crossed the year's target of Rs 3,70,288 crore.

The last few years has seen the government able to successfully control the fiscal deficit, by cutting expenditure. Finance Minister P Chidambaram in the last two years has manage to control the deficit and avert what looked like a certain ratings downgrade.

With inputs from PTI

Read more about: fiscal deficit, gdp
Story first published: Tuesday, April 1, 2014, 8:48 [IST]
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