Fiscal deficit at August-end at 31% of budget estimate1 min read . Updated: 30 Sep 2021, 07:51 PM IST
- As per budget estimates made in February, Centre’s gap between receipts and spending to be met with borrowing is over Rs15 trillion
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NEW DELHI : Central government’s fiscal deficit stood at ₹4.68 trillion at the end of August touching 31.1% of the budgeted level, official data from the Controller General of Accounts (CGA) showed.
As per budget estimates made in February, Centre’s gap between receipts and spending to be met with borrowing is over ₹15 trillion. In the first five months of the last financial year, Centre’s fiscal deficit had breached the full year target as revenue receipts declined as a result of the stringent national lockdown meant to fight the pandemic and spending requirements to deal with the situation shot up.
CGA data showed that Centre’s revenue receipts of ₹7.9 trillion at the end of the April-August period this fiscal accounts for about 44.4% of the budget estimate for the full year. This was only 18.3% in the same period a year ago.
At the end of August, dividends and profits earned by the Centre at ₹1 trillion almost touched the full year target. However, receipts from disinvestment of stake in state-run companies at ₹8,369 crores at the end of August accounted for only 11% of the ₹75,000 crore target. There is no receipts from disinvestment of stake in financial institutions and public sector banks for which a ₹1 trillion target has been set.
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