India's fiscal deficit reaches 76.4% in August
India's fiscal deficit for April to August 2016 period reached Rs 4,07,820 crore as against budgeted target of Rs 5,33,904 crore. Fiscal deficit in April-July period stood at Rs 3,93,487 crore.
The data from Controller General of Accounts (CGA) show that the government has spent 76.4% of the total budgeted estimates for the current fiscal year as against 66.5% in the same period of last year.
Fiscal deficit till July 2016 and June 2016 was at 73.7% and 61.1%, respectively.
Revenue receipts for the given period stood at Rs 3,85,323 crore, lower by 30.3% from the same period of last year.
Data showed that revenue deficit for April-August 2016 period stood at 74.7%, at Rs 3,25,006 crore.