The fiscal deficit for FY19 came in at 3.39% of GDP, a tad lower than 3.4%, estimated in the revised estimates of the Budget, mainly due to increase in non-tax revenue and lower expenditure, as per data released by Controller General of Accounts (CGA).
In absolute terms, fiscal deficit at the end of 31 March, 2019, stood at ₹6.45 trillion as against ₹6.34 trillion in the revised estimates of Budget.
Although in absolute terms the fiscal deficit has gone up, but as a percentage of GDP the deficit figure has come down marginally, mainly on account of GDP expansion in 2018-19 -- data of which will be released later in the day.
The fiscal deficit in April stood at ₹1.57 trillion, or 22.3% of the budgeted target for the current fiscal year, government data showed on Friday.
Net tax receipts in the first month of the fiscal year were ₹71,637 crore, while total expenditure was ₹2.55 trillion, government data showed.
The government has set a fiscal deficit target of 3.4% for FY20, which was same as FY19.