Home / Economy / India's five-month fiscal deficit touches 5.42 lakh crore

India's fiscal deficit stood at 5.42 lakh crore in the April-August period, accounting for 32.6 percent of the full-year target.

Net tax receipts rose to about 8.48 lakh crore from 8.09 lakh crore, year-on-year. The total expenditure stood at 13.9 lakh crore from 12.77 lakh crore, year-on-year, while the capital expenditure rose to 2.52 lakh crore as compared to 1.72 lakh crore, from last year.

The centre's revenue spend rose to 11.38 lakh crore from 11.05 lakh crore, y-o-y basis while the tax revenue was at 10.20 lakh crore, up from 8.596 lakh core, from year ago period.

The Centre is targeting a fiscal deficit of 16.61 lakh crore for FY23, or 6.4 per cent of GDP.

In August, the fiscal deficit stood at 2.01 lakh crore, as compared to 1.47 lakh crore from last year.

The Centre's net tax receipts, in August, fell to 62,500 crore, from 1.25 lakh crore, from year ago period. The total expenditure, dropped to 2.63 lakh crore from 2.72 lakh crore, while capital expenditure rose to 43,700 crore from 43,400, year-on-year basis.

For the August period, the centre's revenue spend dipped to 2.20 lakh crore from 2.29 lakh crore, y-o-y basis while the tax revenue dipped to 1.51 lakh crore, from 1.64 lakh core, from year ago period.

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