Fiscal deficit reaches 99% of BE in April-November 2014-15

India fiscal deficit reached 98.9% of Budget Estimate (BE) in eight months ended November 2014 to Rs 5.25 lakh crore, highlighting tight financial position of the central government. It was 94% of BE in corresponding period last year.

The rise in fiscal deficit was mainly due to subdued revenue collection. The net tax revenue collection in April-November was Rs 4.13 lakh crore 42.3% of BE, slightly lower from 44.8% during the same period last year.

Total receipts during the eight months of FY15 was Rs 5.49 lakh crore, a 43.4% of the target, lower than 45.6% collected in corresponding period 2013-14.

Plan expenditure of the government during the period was Rs 2.93 lakh crore, 51.1% of BE and non-Plan expenditure was Rs 7.8 lakh crore or 64% of BE.

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