High spending ups fiscal deficit

An increase in expenditure coupled with lower receipts pushed up fiscal deficit figures during April-February 2006 to Rs 1,32,220 crore compared with a deficit of Rs 1,15,498 crore during the corresponding period last year.

Fiscal deficit up to February 2006 accounted for 90.5 per cent of Budget estimates of Rs 1,46,175 crore. It was 83 per cent during the same period last year.

Revenue deficit, though at Rs 98,652 crore it is higher, in absolute terms, than last year's deficit of Rs 92,674 crore, was marginally lower as a percentage of Budget estimates. Revenue deficit accounted for 107.4 per cent of the Budget estimates against 108.8 per cent last year.

The lower revenue deficit was on account of higher revenue receipts at Rs 2,69,140 crore, accounting for 77 per cent of the Budget estimates compared with 76 per cent during April-February 2004-05.

Tax revenue at Rs 2,07,847 crore was 23 per cent higher than Rs 1,68,407 crore during the corresponding period last year. Non-tax receipts at Rs 61,293 crore were, however, only marginally higher than Rs 60,598 crore during April-February 2004-05.

Total expenditure at Rs 4,11,922 crore accounted for 81 per cent of Budget estimates compared with Rs 4,05,206 crore during April-February last year.

Planned expenditure at Rs 1,12,343 crore accounted for 78 per cent of Budget estimates, against 76 per cent last year, while non-Plan expenditure at Rs 2,99,579 crore was marginally lower than the Rs 3,00,849 crore during April-February 2004-05.