 "Centre’s fiscal deficit exceeds budget target by 15% in 1st 8 mths of FY19")
The central government’s fiscal deficit widened further in November after crossing the budgeted target last month due to slower-than-expected growth in indirect tax collection.
The fiscal deficit stood at Rs 7.17 trillion at the end of November 2018, 114.8 per cent of the budgeted target of Rs 6.24 trillion, showed the latest data released by the Controller General of Accounts.
Slower revenue growth puts pressure on the Centre to meet the budgeted fiscal deficit target of 3.3 per cent of gross domestic product in 2018-19 (FY19), which may force it to cut capital expenditure (capex) this year and carry over some subsidies to the next year.
