India's fiscal deficit reaches 74% of full-year target in July

India`s fiscal deficit during April-July was 3.93 trillion rupees ($58.69 billion), or 73.7% of the budgeted target for the fiscal year ending in March 2017, government data showed on Wednesday.

India's fiscal deficit reaches 74% of full-year target in July
Despite lower total expenditure, fiscal deficit has reached to nearly 74% of the targeted budget. Photo: Pixabay
Written By: Reuters
Updated: Wed, Aug 31, 2016
06:28 pm
New Delhi, Reuters
RELATED NEWS
Budget in A Minute: What is Economic Survey? Zee Business Managing Editor Anil Singhvi explains Budget in A Minute: What is Economic Survey? Zee Business Managing Editor Anil Singhvi explains
Budget in A Minute: Fiscal Deficit in Union Budget explained here by Zee Business Managing Editor Anil Singhvi Budget in A Minute: Fiscal Deficit in Union Budget explained here by Zee Business Managing Editor Anil Singhvi
Budget 2020 Expectations: Announcements on government spending crucial in the Budget 2020, Prabhudas Lilladher's Joint MD, Dilip Bhat says Budget 2020 Expectations: Announcements on government spending crucial in the Budget 2020, Prabhudas Lilladher's Joint MD, Dilip Bhat says
Budget in Minute: What is fiscal deficit? Anil Singhvi explains Budget in Minute: What is fiscal deficit? Anil Singhvi explains

India`s fiscal deficit during April-July was 3.93 trillion rupees ($58.69 billion), or 73.7% of the budgeted target for the fiscal year ending in March 2017, government data showed on Wednesday.

The deficit was 69.3% during the same period a year ago.

Net tax receipts in the first four months of 2016/17 fiscal year were 2.22 trillion rupees.

Total expenditure of the government during Q1 was nearly Rs 5,11,832 crore trillion or 25.9% of BE as compared with 24.2% of BE in Q1 FY 16.  

Despite lower total expenditure, fiscal deficit has reached to nearly 74% of the targeted budget. 

Gross and net market borrowing requirements of the Government for FY 17 were budgeted at Rs 6,00,000 crore and Rs 4,25,181 crore respectively, which were higher by 2.6% and 6%, respectively, than Rs 5,92,000 crore and Rs 4,01,929 crore in the revised estimates for FY16. 

Net market borrowings during Q1 FY 17 at 25.7 per cent of BE were also lower than 26.8 per cent of BE in the corresponding period of previous year. 

 

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.