New Delhi: Fiscal deficit of the union government shot up to Rs90,758 crore for the first two months of the current fiscal year, already 27.3% of the budget estimate.
The budget estimate for the fiscal deficit in the year 2009-10 is Rs3,32,835 crore. During the first two months of last fiscal year the fiscal deficit had accounted for 54.9% of the year’s budget estimate.
Fiscal deficit, the difference between revenue, including borrowings, and expenditure, had touched 16% of the target in April. The deficit for the month stood at Rs54,100 crore. Fiscal deficit was projected to be 5.5% of gross domestic product (GDP) in the interim budget for 2009.
Revenue deficit rose to Rs80,963 crore, which is 33.9% of the full year’s estimate of Rs2,38,534 crore.