NEW DELHI: The full-year fiscal deficit target of Rs 6.24 lakh crore used to be breached at October-end principally as a result of decrease income collections, showed executive knowledge Friday, reflecting deterioration in public price range.
The fiscal deficit or hole between expenditure and income used to be Rs 6.48 lakh crore or 103.nine in keeping with cent of Budget Estimate (BE) all the way through April-October of the present financial yr. At end of October 2017-18, the deficit used to be 96.1 in keeping with cent of the BE.
The executive has budgeted to cut fiscal deficit to a few.3 in keeping with cent of GDP in 2018-19 from 3.53 in keeping with cent within the previous financial yr.
According to the data released by means of the Controller General of Accounts (CGA), the income receipts of the federal government totalled Rs 7.88 lakh crore or 45.7 in keeping with cent of the BE for 2018-19 as compared to 48.1 in keeping with cent of BE closing yr. The executive has budgeted to mop up Rs 17.25 lakh crore income all the way through the current fiscal.
Tax income used to be 44.7 in keeping with cent of BE compared to 51.6 in keeping with cent completed within the similar duration of the closing yr.
As in keeping with the CGA knowledge, the entire expenditure of the federal government at October-end used to be Rs 14.56 lakh crore or 59.6 in keeping with cent of the BE. The expenditure in terms of proportion of the BE used to be marginally upper within the year-ago duration.
"Fiscal deficit figure shown in monthly accounts during a financial year is not necessarily an indicator of fiscal deficit for the year as it gets impacted by temporal mismatch between flow of not-debt receipts and expenditure up to that month on account of various transitional factors both on receipt and expenditure side, which may get substantially offset by the end of the financial year," CGA mentioned.
The fiscal deficit or hole between expenditure and income used to be Rs 6.48 lakh crore or 103.nine in keeping with cent of Budget Estimate (BE) all the way through April-October of the present financial yr. At end of October 2017-18, the deficit used to be 96.1 in keeping with cent of the BE.
The executive has budgeted to cut fiscal deficit to a few.3 in keeping with cent of GDP in 2018-19 from 3.53 in keeping with cent within the previous financial yr.
According to the data released by means of the Controller General of Accounts (CGA), the income receipts of the federal government totalled Rs 7.88 lakh crore or 45.7 in keeping with cent of the BE for 2018-19 as compared to 48.1 in keeping with cent of BE closing yr. The executive has budgeted to mop up Rs 17.25 lakh crore income all the way through the current fiscal.
Tax income used to be 44.7 in keeping with cent of BE compared to 51.6 in keeping with cent completed within the similar duration of the closing yr.
As in keeping with the CGA knowledge, the entire expenditure of the federal government at October-end used to be Rs 14.56 lakh crore or 59.6 in keeping with cent of the BE. The expenditure in terms of proportion of the BE used to be marginally upper within the year-ago duration.
"Fiscal deficit figure shown in monthly accounts during a financial year is not necessarily an indicator of fiscal deficit for the year as it gets impacted by temporal mismatch between flow of not-debt receipts and expenditure up to that month on account of various transitional factors both on receipt and expenditure side, which may get substantially offset by the end of the financial year," CGA mentioned.
Govt breaches full-year fiscal deficit target at Oct-end
![Govt breaches full-year fiscal deficit target at Oct-end]()
Reviewed by Kailash
on
November 30, 2018
Rating:
