India's April-February deficit at 120.3% of full year's target

Last Updated: Wed, Mar 28, 2018 17:44 hrs
Economic Survey projects over 8 pc GDP growth in 2015-16

New Delhi India's budgetary fiscal deficit for the 11 months ended in February of 2017-18 stood at 120.3 per cent -- Rs 7.15 lakh crore -- of the full year's revised target of Rs 5.94 lakh crore, official data showed on Wednesday.

The data furnished by the Comptroller General of Accounts (CGA) showed that the April-February fiscal deficit was 113.4 per cent of the (revised) budget in the same period of the last fiscal.

As per the CGA data, net tax revenue during the period under review was Rs 10.35 lakh crore or 81.6 per cent of the revised estimated target.

The total receipts -- from revenue and non-debt capital -- during the fiscal's 11 months ended in February were Rs 12.83 lakh crore, or 79.1 per cent of the revised estimates for the current year.

The monthly account till February-end revealed that the government collected Rs 12.83 lakh crore revenue, which is 79.09% of revised estimates. From this nearly Rs 10.35 lakh crore was collected from taxes, while over Rs 1.42 lakh crore and Rs 1.05 lakh crore got accrued on account of non-tax revenue and non-debt capital receipts, respectively.

Non-debt capital receipts comprised of recovery of loans of Rs 13,301 crore. Besides, Rs 92,493 crore has been mopped up through PSU disinvestment till February-end.

In the revised estimates of 2017-18, the government had raised the disinvestment target to Rs 1 lakh crore, up from Rs 72,500 crore in the Budget estimates.

In 11 months till February, over Rs 5.29 lakh crore has been transferred to state governments as devolution of share of taxes by the Centre, which is Rs 66,039 crore higher than the corresponding period of last year 2016-17.

Total expenditure incurred by the government during the period was over Rs 19.99 lakh crore, which is 90.14 per cent of revised estimates for 2017-18.

(With additional inputs from other agency copy)

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