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Home / Economy / April-August fiscal deficit near 4.7 lakh cr, at 31.1% of FY22 target: Govt
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The union government's fiscal deficit in April-August, the first five months of the financial year, stood at 4.68 lakh crore, or 31.1% of the budgeted target for the whole year, government data showed on Thursday.

The government has received 8.08 lakh crore, about 41% of Budget estimates till August. This also includes 6.44 lakh crore in tax revenue, 1.48 lakh crore in non-tax revenue

Additionally, the government has received 15,179 crore of non-debt capital receipts. These include recovery of loans worth 6,808 crore and miscellaneous capital receipts of 8,371 crore.

The union government has transferred 2.12 lakh crore to state governments as devolution of share of taxes till August.

The total expenditure incurred by government stood at 12.7 lakh crore, around 36.7% of Budget estimates. Out of the total expenditure, 11.04 lakh crore is on revenue account and 1.71 lakh crore is on capital account.

The goverment has also incurred 2,78 lakh crore on account of interest payments and 1.47 lakh crore on subsidies for various schemes.

Bloomberg reported earlier that India is aiming to narrow the deficit to 6.3% of gross domestic product this fiscal year, or half a percentage point lower than initially targeted, on the back of improving revenues.

The fiscal deficit could possibly be in the range of 7.2% to 7.5% as revenue assumptions look tough to achieve, Care Ratings said last week. 

“We have six months left to get the disinvestment story right. Will this happen is a big question?" the rating company said.

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