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India’s Apr-Jul fiscal deficit at Rs 3.93 lakh cr

Indias Apr-Jul fiscal deficit at Rs 3.93 lakh cr

Fiscal deficit in the first four months of the current financial year stood at Rs 3.93 lakh crore, or 73.3 percent of the Budget estimates for 2016-17.

The fiscal deficit during April-July 2015-16 was 69.3 percent of the Budget estimates.

Fiscal deficit, which is the gap between expenditure and revenue for the entire current fiscal, has been pegged at Rs 5.33 lakh crore or 3.5 percent of GDP.

Net tax receipts in April-July period of 2016-17 stood at Rs 2.22 lakh crore, according to Controller General of Accounts (CGA) data.

Mop-up from non-tax revenue, which includes interest receipts and dividend , was lower at Rs 34,098 crore or 10.6 percent of BE. It was 24.9 percent on BE at the end of July 2015-16 fiscal year.

Total receipts (from revenue and non-debt capital) of the government during the four months was Rs 2.63 lakh crore or 18.2 percent of the estimates for the current year.

Total expenditure of the government during April-July was nearly Rs 6.57 lakh crore, or 33.2 percent of the entire year estimates.

Of the total expenditure, plan spending was over Rs 1.98 lakh crore and non-plan was over Rs 4.59 lakh crore.

The revenue deficit during the four months was over Rs 3.30 lakh crore, or 93.1 percent of the estimates, Controller General of Accounts (CGA) data showed.