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Fiscal deficit to revenue target: Crunching the Budget numbers

With GST revenues coming well below expectations, the Centre failed to meet its budgeted fiscal deficit target yet again

Topics
fiscal deficit | Interim Budget

Ishan Bakshi 

The Central government has projected its gross tax revenue to touch 12.2 per cent of gross domestic product (GDP) in the financial year 2021-22 (FY22).

But as seen in chart 1, while the Centre had projected tax revenues to touch 12.1 per cent of GDP in FY19, Revised Estimates peg the collections at 11.9 per cent, owing to a shortfall in the goods and service tax (GST) collections. On the other hand, non-tax revenue, which includes dividend and profits from public sector companies and the Reserve Bank of India as well as the revenue from communication services, is expected to remain ...

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First Published: Sun, February 03 2019. 22:55 IST