For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Fiscal Deficit Crosses 77% Of Budgeted Target For FY20 Till July

By Staff
|

According to government data released on Friday, India's fiscal deficit touched Rs 5.47 lakh crore in the June quarter, which is 77.8 percent of the budget estimate for the financial year 2019-20.

In absolute terms, the fiscal deficit or gap between expenditure and revenue was Rs 5,47,605 crore at July-end, as per Controller General of Accounts (CGA) data.

Fiscal Deficit Crosses 77% Of Budgeted Target For FY20 Till July
 

The fiscal deficit stood at 86.5 percent of 2018-19 budget estimate in the year-ago period. The government estimates the fiscal deficit to be at Rs 7.03 lakh crore during 2019-20. The deficit is aimed to be restricted at 3.4 percent of the GDP (gross domestic product) in the current fiscal, same as the last fiscal.

The CGA data showed that revenue receipts of the government during April-July, 2019-20 remained unchanged at 19.5 percent of the Budget Estimate (BE) compared to the corresponding period last year.

In absolute terms, revenue receipts stood at Rs 3.82 lakh crore at July-end 2019. During the entire year, the revenue receipts has been pegged at Rs 19.62 lakh crore.

The capital expenditure was 31.8 percent of the BE. This compares with 37.1 percent in the year-ago period, the CGA said.

Total expenditure during April-July period stood at Rs 9.47 lakh crore or 34 per cent of the BE. It was 36.4 per cent of BE in the corresponding period last fiscal.

The government has pegged its total expenditure during the fiscal ending March 2020 at Rs 27.86 lakh crore.

Inputs from PTI

Read more about: fiscal deficit
Story first published: Friday, August 30, 2019, 16:44 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more