Team Blitz India
NEW DELHI: India’ s fiscal deficit for the first seven months of the current financial year touched 45% of the full-year budget estimate, marginally lower than the 45.6% deficit recorded in the year-ago period, data released by the Controller General of Accounts (CGA) showed on November 30.
In absolute terms, the fiscal deficit between April and October this year stood at Rs 8.03 lakh crore against Rs 7.6 lakh crore a year ago. The Government has pegged FY24 fiscal deficit at 5.9% of the GDP or Rs 17.8 lakh crore.
A 15% year-on-year decline in capital expenditure (capex) in October helped contain the fiscal deficit at the end of seven months. Capex expanded 33.7% in the April-October period, data showed.
Capital expenditure stood at ₹5.47 lakh crore, higher than Rs 4.09 lakh crore in the year-ago period, it showed.
Net receipts stood at Rs15.90 lakh crore, which is 58.6% of total budget estimate, the data showed. Net tax revenues rose 11.2% and non-tax revenues expanded 48.7% following dividend transfer from the Reserve Bank tax revenues reached Rs 13.02 lakh crore or 55.9% of the budget estimate. Non-tax revenue stood at Rs 2.65 lakh crore in the period under review.
