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Fiscal deficit touched 4.52% at end-February

  • The govt has pegged its fiscal deficit target for 2018-19 at 3.4% for which was revised upwards from the earlier 3.3%.
  • At the end of February, the fiscal deficit is at 8,51,499 crore had crossed 134% of the budget estimate

New Delhi: The country's fiscal deficit at 8.51 trillion at the end of February 2019 had touched 4.52% of the GDP, a senior Finance Ministry source said on Thursday citing its data in this regard.

The government's has pegged its fiscal deficit target for 2018-19 at 3.4% for which was revised upwards from the earlier 3.3%.

The government is yet to release the fiscal deficit figure for the last financial year, including the figure for March.

At the end of February, the fiscal deficit is at 8,51,499 crore had crossed 134% of the budget estimate (BE). In the corresponding period of previous year the deficit stood at 120% .

"The receipts are sufficient to cover only 61% of expenditure. As a percentage to GDP, fiscal Deficit is 4.52% and revenue deficit is 3.45%", says the Finance Ministry note.

Till end-February, the total expenditure of the government was 21,88,839 crore or 89 % of budget estimate. The figure for the corresponding Period of the Previous Year was 90%.

It comprised Revenue Expenditure of 19,15,303 crore, or at 89% of of BE, as compared to 88% in the year-ago period and Capital Expenditure of 2,73,536 crore at 87% of BE.

Against this, the receipts were far less. Total receipts were 13,37,340 crore by end-February, or at 73% of the BE.

Gross tax collection for the period had touched 16,92,110 crore or 75% of the BE, against 81% in the same period of the previous fiscal.

The net tax revenue to the Centre was of the order of 10,93,923 crore, or 74% of BE, after deducting devolution to States ( 5,96,667 crore) and collections under national calamity and contingency duty (NCCD) to be transferred to the National Disaster Response Fund or NDRF ( 1,520 crore).

Total receipts include Net Tax Revenue to Centre ( 10,93,923 crore), Non Tax Revenue ( 1,71,755 crore) and Other Receipts ( 71,662 crore), the figures showed.

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