Fiscal deficit reaches 43% of Budget estimates in April-May
Total expenditure of the government during April-May was Rs 2.98 lakh crore or 15.1% of the entire year estimates.
Fiscal deficit in the first two months of the current fiscal was Rs 2.28 lakh crore or 42.9% of Budget estimates for 2016-17, much higher than the year-ago period.
The fiscal deficit situation during April-May of the last fiscal was 37.5% of the Budget estimates. The gap between expenditure and revenue for the entire current fiscal has been pegged at Rs 5.33 lakh crore.
As per the data released by the Controller General of Accounts, tax revenue was Rs 49,690 crore or 4.7 per cent of the estimate.
Total receipts (from revenue and non-debt capital) of the government during the two months was Rs 69,060 crore or 4.8% of the estimates for the current year. It was 4.4% of the estimates for 2015-16.
Total expenditure of the government during April-May was Rs 2.98 lakh crore or 15.1% of the entire year estimates. Of the total expenditure, plan spending was Rs 90,570 crore and non-plan was over Rs 2,07,476 crore.
The revenue deficit during the two month was over Rs 1.99 lakh crore or 56.2% of the estimates, CGA data showed. For the 2016-17 year, the government aims to restrict fiscal deficit to Rs 5.33 lakh crore or 3.5% of the GDP.
Revenue deficit refers to shortfall in total government revenue realisation from the targeted figure.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.