Home >News >India >Fiscal deficit at 0.75% of GDP in April: DoE figures

New Delhi: Fiscal deficit for the month of April was at 1,57,048 crore which is 22% of the budgeted estimate for the year 2019-20, slightly lower than what it was in the same period a year ago and as a percentage to the GDP, the fiscal deficit is at 0.75%, Department of Expenditure (DoE) figures showed.

These are the fiscal situation of the Central government as seen from the accounts for April 2019 of the Controller General of Accounts (CGA). For 2019-20, the fiscal deficit has been set at 3.4% of the GDP in the interim Budget.

Fiscal deficit is 1,57,048 crore — 22% of budget estimate (corresponding period for previous year's 24%). The receipts are sufficient to cover only 38% of expenditure. As a percentage to GDP, fiscal deficit is 0.75% and revenue deficit is 0.61%, the figures of Review of Accounts of April of the CGA stated.

For April, the total expenditure of the government was 2,54,679 crore or 9% of budget estimate, comprising revenue expenditure of 2,24,091 crore — 9% of budget estimate and capital expenditure of 30,588 crore — 9% of budget estimate.

Total receipts were 97,631 crore —5% of the budget estimate. Gross tax was 1,21,190 crore — 5% of the budget estimate. The net tax revenue to the Centre was of the order of 71,637 crore -- 4 per cent of BE after deducting devolution to states ( 49,544 crore) and collections under National Calamity Contingent Duty (NCCD) to be transferred to National Disaster Relief Fund (NDRF) ( 9 crore).

Total receipts include Net Tax Revenue to Centre ( 71,637 crore), Non Tax Revenue ( 23,293 crore) and other receipts ( 2,701 crore).

During the month of May, the plan releases for various schemes to the tune of 2,012.70 crore were made to the states.

A sum of 49,543.62 crore was devolved to states as their share in Central Taxes and Duties. In addition, releases of the order of 3,850.57 crore were made to the states in May, as recommended by the 14th Finance Commission. NDRF allocation was 788.75 crore and Post Devolution Revenue Deficit (PDRD) was 2,850.57 crore.

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