Fiscal deficit touches 128.5% of Budget estimate at Jan-end

| | New Delhi
  • 0

Fiscal deficit touches 128.5% of Budget estimate at Jan-end

Saturday, 29 February 2020 | PTI | New Delhi

India’s fiscal deficit touched 128.5 per cent of the whole year budget target at January-end, said the Controller General of Accounts (CGA) on Friday.

The deficit during the same period during 2018-19 was 121.5 per cent of that year’s Revised Budget Estimate (RE). In actual terms, the fiscal deficit or gap between the expenditure and revenue stood at Rs 9,85,472 crore. The government had targeted to restrict the fiscal deficit at Rs 7,66,846 crore during the year ending March 31, 2020.

While presenting the Union Budget to Parliament earlier this month, Finance Minister Nirmalal Sitharaman had raised fiscal deficit target to 3.8 per cent of the GDP from 3.3 per cent pegged earlier for 2019-20 due to revenue shortage.

As per the CGA data on monthly accounts, revenue receipts during April-January were at Rs 12.5 lakh crore or 67.6 per cent of the RE for 2019-20. This compares with 68.3 per cent of the RE in the previous fiscal.

Total receipts were at 66.4 per cent of RE as against 67.5 per cent in the year-ago period.

The CGA further said that total expenditure at January-end was Rs 22.68 lakh crore or 84.1 per cent of RE, higher than 81.5 per cent in the corresponding period of the last fiscal.

Sunday Edition

Grand celebration of cinema

17 November 2024 | Abhi Singhal | Agenda

Savouring Kerala’s Rich Flavours

17 November 2024 | Abhi Singhal | Agenda

The Vibrant Flavours OF K0REA

17 November 2024 | Team Agenda | Agenda

A Meal Worth Revisiting

17 November 2024 | Pawan Soni | Agenda

A Spiritual Getaway

17 November 2024 | Santanu Ganguly | Agenda

Exploring Daman A Coastal Escape with Cultural Riches

17 November 2024 | Neeta Lal | Agenda