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Fiscal Deficit Soars, Government Receipts At Just 6.84% Of FY21 Target

Capital Market 

The Ministry of Finance came up with the Monthly Review of Accounts of Union Government of India upto the month of Jun, 2020 for the Financial Year 2020-21. The Government of India has received Rs.1,53,581 crore (6.84% of corresponding BE 2020-21 of Total Receipts) upto Jun, 2020 comprising Rs. 1,34,822 crore Tax Revenue (Net to Centre), Rs. 15,186 crore of Non Tax Revenue and Rs.3,573 crore of Non Debt Capital Receipts. Non Debt Capital Receipts consists of Recovery of Loans (Rs. 3,573 crore).

Rs. 1,34,043 crore has been transferred to State Governments as Devolution of Share of Taxes by Government of India upto this period which is Rs. 14,588 crore lower than the previous year. Total Expenditure incurred by Government of India is Rs. 8,15,944 crore (26.82% of corresponding BE 2020-21), out of which Rs. 7,27,671 crore is on Revenue Account and Rs. 88,273 crore is on Capital Account. Out of the Total Revenue Expenditure, Rs.1,60,493 crore is on account of Interest Payments and Rs.78,964 crore is on account of Major Subsidies.

The overall analysis of data showed that India's fiscal deficit reached Rs 6.62 lakh crore, or 83.2% of the budgeted estimate in the quarter ended June. The gap between the revenue and expenditure during the same period in 2019-20 stood at 61.4% of the budgeted target.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, August 01 2020. 11:51 IST