|
| Fiscal deficit till July at 40% of the full-year target |
| Press Trust of India / New Delhi Aug 31, 2009, 19:42 IST |
|
India's fiscal deficit touched 40 per cent of the full-year estimate in the first four months of FY10, kindling fears that expenses will exceed income beyond what was projected earlier.
The country's fiscal deficit for April-July period stood at over Rs 1.58 lakh crore, 39.5 per cent of the annual budget estimate of over Rs 4 lakh crore. The government had projected a deficit of 6.8 per cent of GDP this fiscal.
In FY09, the fiscal deficit in the first four months had touched 87 per cent of the budgeted estimate, according to data released by the Controller General of Accounts today.
Meanwhile, the revenue deficit for the four months till July stood at about Rs 1.35 lakh crore, about 48 per cent of the budget estimate of about Rs 2.83 lakh crore for FY10.
Revenue deficit in the year-ago period had crossed 180 per cent of the Budget estimate by July.
Total receipts in the April-July period was about Rs 1.07 lakh crore, 17.2 per cent of the full-year target against last year's collection of 19.2 per cent of the corresponding Budget estimate.
However, total expenditure during the four months was Rs 2.65 lakh crore, which is 26 per cent of the fiscal target. Of the total expenditure, non-plan expenditure was about Rs 1.95 lakh crore and plan expenditure was Rs 70,376 crore.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
