Fiscal deficit till Aug at 45.5% of FY10 target

Fiscal deficit till Aug at 45.5% of FY10 target

New Delhi: India’s fiscal deficit touched 45.5% of the full-year estimate in the first five months of the current fiscal year.

The country’s fiscal deficit for April-August period stood at over Rs1.82 trillion, 45.5% of the annual budget estimate of over Rs4 trillion. The government had projected a deficit of 6.8% of gross domestic product (GDP) this fiscal.

In 2008-09, the fiscal deficit in the first five months had touched 87.7% of the budgetary estimate, as per the data released by the Controller General of Accounts on Wednesday.

Meanwhile, the revenue deficit for the five months till August stood at over Rs1.55 trillion, about 55% of the budget estimate of Rs2.83 trillion for this fiscal.

Revenue deficit in the year-ago period was nearly 180% of the budget estimate by August.

Total receipts in the April-August period was about Rs1.61 trillion, 26% of the full-year target against last year’s collection of 26.3% of the corresponding budgetary estimate.

On the other hand, total expenditure during the five months was Rs3.43 trillion, which is 33.6% of the fiscal target. The total budgetary estimate of expenditure is more than Rs10 trillion in the current fiscal.

Of the total expenditure, non-plan expenditure was about Rs2.45 trillion and plan expenditure was close to Rs1 trillion in the first five months of 2009-10.