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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.

Business Desk
October sees 45% fiscal deficit
October sees 45% fiscal deficit | Image:Shutterstock
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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.

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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.

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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.

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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

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Published December 29th, 2023 at 17:24 IST

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