India's fiscal deficit for April-October at 36.3% of FY22 target

The windfall gains from oil revenues have contributed to the government's tax collection

The Union government’s fiscal deficit for the April-October period came in at Rs 5.47 trillion or 36.3 per cent of the Budget estimates. In the corresponding period last year, the country’s fiscal deficit was a high 119.7 per cent. In the pre-pandemic period (April-October 2019-20), the fiscal deficit was 102.4 per cent of the Budget numbers.

The deficit stood at 6.4 per cent of GDP during the first half of the current fiscal year, a bit lower than the full year target of 6.8 per cent. 

The data released by the Controller General Accounts for the April-October period showed that the reduced