India's Fiscal Deficit has Reached 86.5% of the 2018-19 Budget Target till July

According to the monthly review of accounts of Government of India released by the Ministry of Finance today, a fiscal deficit Rs 5.40 lakh crore for April-July 2018-19 has been reached. This is 86.5 percent of the budgeted target, which is less than 92.4 percent in the same period last year.

The data released showed that India has received Rs 3,49,467 crore (19.22 percent of corresponding BE 18-19 of Total Receipts) up to July 2018 comprising Rs 2,92,611 crore Tax Revenue (Net to Centre), Rs 43,125 crore of Non-Tax Revenue and Rs 13,731 crore of Non-Debt Capital Receipts. Non Debt Capital Receipts consists of Recovery of Loans (Rs 4,512 crore) and Disinvestment of PSUs (Rs 9,219 crore).

Rs 2,12,414 crore has been transferred to State Governments as devolution of the share of taxes by the Government of India up to this period which is Rs 19,686 crore higher than the corresponding period of the last year 2017-18.

Total expenditure incurred by the country is Rs 8,89,724 crore (36.43 percent of corresponding BE 18-19), out of which Rs 7,78,387 crore is on Revenue Account and Rs 1,11,337 crore is on Capital Account. Out of the total Revenue Expenditure, Rs 1,80,844 crore is on account of Interest Payments and Rs 1,41,682 crore is on account of Major Subsidies.