Fiscal deficit up at Rs 77,480 crore

The country's fiscal deficit during April-July has risen to Rs 77,480 crore, accounting for 51.3 per cent of the budget estimate, on increase in plan expenditure coupled with a near stagnant tax revenue.

The deficit in the same period last year accounted for only 36.7 per cent of the budget estimate.

According to the data released by the Controller General of Accounts, the plan expenditure at Rs 37,632 crore was 26.2 per cent of the budget estimate compared to 20.8 per cent in the corresponding period the previous year.