Fiscal deficit fell 42% to Rs 91,000 cr in April-July

The Centre’s fiscal deficit fell 42 per cent to Rs 90,915 crore in April-July, compared to the period last year, on high revenue receipts from the auction of 3G spectrum.

The deficit represents 23.8 per cent of the estimate for the current financial year. The Budget estimates fiscal deficit, which represents the amount by which the government expenditure exceeds its revenue, to be at Rs 3,81,408 crore.

Towards the end of the first quarter, the government had collected over Rs 1.06 lakh crore through the sale of spectrum for 3G and Broadband Wireless Access services, compared to the Budget target of Rs 35,000 crore.

In the first four months of the financial year, non-tax revenue receipts stood at Rs 1,25,703 crore, 84.9 per cent of the full-year target. Non-tax revenue receipts were at 13.6 per cent of the estimate in the corresponding period last year.

Tax revenue receipts in the period reached 21.1 per cent of estimates for 2010-11, at Rs 1,12,821 crore. The overall revenue is pegged at Rs 5,34,094 crore for the financial year.