Fiscal deficit zooms to 61% of BE in Apr-Jun qtr

The government estimates fiscal deficit in 2016-17 to be Rs 5.33 lakh crore or 3.5% of GDP

The state of public finances showed some deterioration with the fiscal deficit crossing 61 per cent of the Budget Estimates in the first quarter of 2016-17, on higher expenditure and subdued realisation of non-tax revenues.

The fiscal deficit, gap between expenditure and revenue, during the April-June period of the current financial year stood at over Rs 3.26 lakh crore or 61.1 per cent of BE.

The deficit was 51.6 per cent in the same quarter of last fiscal. The government estimates fiscal deficit in 2016-17 to be Rs 5.33 lakh crore or 3.5 per cent of GDP.

As per the data released by the Controller General of Accounts, tax revenue mop up was better than last year at Rs 1.57 lakh crore or 14.9 per cent of BE.

Mop up from non-tax revenue, which include interest receipts and dividend, was lower at Rs 23,484 crore or 7.3 per cent of BE. It was 17.8 per cent on BE at the end of June 2015.

Total receipts (from revenue and non-debt capital) of the government during the three months was Rs 1.85 lakh crore or 12.8 per cent of the estimates for the current year.

Plan Expenditure during the April-June period stood at Rs 1.47 lakh crore or 26.8 per cent of BE. It was 24.7 per cent of BE last fiscal.

Non-Plan Expenditure was over Rs 3.64 lakh crore, or 25.5 per cent of BE in the April-June period.

The revenue deficit during the three months was over Rs 2.82 lakh crore or 79.7 per cent of the estimates, CGA data showed.