Fiscal Deficit At 49.2% Of Budgetary Target In H1

The half-yearly report card of the Centre shows that the fiscal deficit is at 49.2 per cent of the budgetary target of 4.7 per cent of the gross domestic product.

The monthly review of the Union government accounts, released by the Controller General of Accounts today, shows that the total revenue has touched Rs 79,203 crore while expenditure is at Rs 1,45,037 crore, reflecting an actual deficit of Rs 57,262 crore. To ensure a "better awareness of the central government finances", the CGA has replaced the year-on-year comparison chart for item-wise changes in figures with a five-yearly moving average. Accordingly, the fiscal deficit now is better than the five-year figure of nearly 52 per cent of target.

This has helped the tax revenues to look better than a simple comparison with last year. The tax receipts at Rs 48,632 crore are 29.8 per cent of the target, but compared to last year, they are nearly 10 per cent down. However, on a five-yearly average, they are down by only 7.6 per cent. Non-tax revenue is Rs 30,571 crore, which is 44.5 per cent of the target.

In capital receipts, recovery of loans has climbed to Rs 8,572 crore while within expenditure, plan expenses are at Rs 37,885 crore which is 39.8 per cent of the target. Non-plan expenses are at Rs 107,152 crore which is 38.9 per cent of the target. The revenue deficit is at Rs 43,615 crore which is 55.3 per cent of the target. The primary deficit, which measures the deficit net of interest payments, is at 339.3 per cent.