Updated January 28th, 2024 at 17:41 IST
Fiscal deficit at Nov end exceeds 50% of full-year budget estimates
In the same period last year, the deficit was at 58.9 per cent of the budget estimates of 2022-23.
The fiscal deficit at the end of November stood at Rs 9.06 lakh crore or 50.7 per cent of the full-year budget estimate, according to data released by the Controller General of Accounts (CGA) on Friday. In absolute terms, the fiscal deficit was at Rs 9,06,584 crore during the April-October period of 2023-24.
In the same period last year, the deficit was at 58.9 per cent of the budget estimates of 2022-23. For 2023-24, the fiscal deficit of the government is estimated to be at Rs 17.86 lakh crore or 5.9 per cent of the GDP.
The Government of India received Rs 17.4 lakh crore (64.3 per cent of corresponding BE 2023-24 of total receipts) up to November 2023 comprising Rs 14.35 lakh crore tax revenue (net), Rs 2.84 lakh crore of non-tax revenue and Rs 25,463 crore of non-debt capital receipts.
Non-debt capital receipts consist of recovery of loans and miscellaneous capital receipts.
As per the CGA data, total expenditure incurred by the central government was at Rs 26.52 lakh crore (58.9 per cent of corresponding BE 2023-24) during April-November 2023.
Out of the total expenditure, Rs 20.66 lakh crore was on the revenue account and Rs 5.85 lakh crore was in the capital account.
Continuing the path of fiscal consolidation, the government intends to bring the fiscal deficit below 4.5 per cent of GDP by 2025-26.
With PTI Inputs
Published December 29th, 2023 at 17:24 IST