Fiscal deficit fell 42% to Rs 91k cr during April-July

The Centre's fiscal deficit fell by 42 per cent to Rs 90,915 crore during April-July, 2010, year-on-year, on increased 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 for 2010-11 estimates the fiscal deficit, which represents excess government expenditure over its revenue, 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 (radio waves) for both 3G and Broadband Wireless Access (BWA) against the Budget target of Rs 35,000 crore.

In the first four months of the current fiscal, non-tax revenue receipts were Rs 1,25,703 crore, 84.9 per cent of the full year target. During the corresponding period last year, non-tax revenue receipts was at 13.6 per cent of the estimate.

On the other hand, tax revenue receipts during April-July period reached 21.1 per cent of 2010-11 estimate at Rs 1,12,821 crore. The overall revenue receipts target is pegged at Rs 5,34,094 crore for the current fiscal.

The total expenditure in the first four months of the current fiscal stood at Rs 3,32,700 crore, thereby reaching 30 per cent of the target for the full year.

The plan expenditure during April-July period is at Rs 1,09,800 crore while non-plan expenditure stood at Rs 2,22,900 crore.

The government's expenditure for the current fiscal is targeted at Rs 11,08,749 crore. The revenue deficit in the first four months of the current fiscal stood at Rs 50,075 crore, representing 18.1 per cent of the target for the full fiscal.