Fiscal deficit in April-December hits 94% of budget target

 

BUDGET 2017 – Fiscal deficit in the first nine months of 2016-17 touched 93.9 per cent of the Budget target as against 87.9 per cent for the same period a year ago.

In value terms, the April-December fiscal deficit stood at Rs 5.01 lakh crore, or 93.9 per cent, of 2016-17 Budget estimates (BE). The fiscal deficit stood at 87.9 per cent in the corresponding nine months a year ago, as per 2015-16 BE.

Fiscal deficit, the gap between expenditure and revenue for the entire fiscal, has been pegged at Rs 5.33 lakh crore, or 3.5 per cent of the GDP, for the financial year 2016-17.

As per data released by the Controller General of Accounts (CGA), tax revenue came in at Rs 7.52 lakh crore, or 71.4 per cent of the full-year BE of Rs 10.54 lakh crore.

Total receipts from revenue and non-debt capital of the government during the period read Rs 9.68 lakh crore or 67.1 per cent of BE. READ MORE

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