New Delhi: Govt. Fiscal deficit According to data released by the Controller General of Accounts (CGA) on Thursday, it stood at Rs 4.68 lakh crore or 31.1 per cent of the budget estimate at the end of August.
The deficit figure in the current fiscal appears to be much better than the previous financial year, when it increased to 109.3 per cent of the estimate, mainly due to a jump in spending to deal with the Covid-19 pandemic.
Overall, the fiscal deficit or the gap between expenditure and revenue stood at Rs 4,68,009 crore at the end of August, the CGA said.
For the current fiscal, the government expects the deficit to be 6.8 per cent of GDP or Rs 15,06,812 crore.
According to the data, the total receipts of the central government till August 2021 stood at Rs 8.08 lakh crore or 40.9 per cent of the corresponding Budget Estimate (BE) 2021-22.
The total receipts during the corresponding period of the previous financial year were 16.8 per cent of the BE of 2020-21.
Of the total receipts, tax revenue was Rs 6.44 lakh crore or 41.7 per cent of BE. Tax revenue in the year-ago period was only 17.4 per cent of the BE of 2020-21.
The CGA said the Centre’s total expenditure as of August 2021 was Rs 12.76 lakh crore or 36.7 per cent of BE.
The fiscal deficit for 2020-21 stood at 9.3 per cent of gross domestic product (GDP), better than the 9.5 per cent projected in the revised estimates in the budget in February.
The deficit figure in the current fiscal appears to be much better than the previous financial year, when it increased to 109.3 per cent of the estimate, mainly due to a jump in spending to deal with the Covid-19 pandemic.
Overall, the fiscal deficit or the gap between expenditure and revenue stood at Rs 4,68,009 crore at the end of August, the CGA said.
For the current fiscal, the government expects the deficit to be 6.8 per cent of GDP or Rs 15,06,812 crore.
According to the data, the total receipts of the central government till August 2021 stood at Rs 8.08 lakh crore or 40.9 per cent of the corresponding Budget Estimate (BE) 2021-22.
The total receipts during the corresponding period of the previous financial year were 16.8 per cent of the BE of 2020-21.
Of the total receipts, tax revenue was Rs 6.44 lakh crore or 41.7 per cent of BE. Tax revenue in the year-ago period was only 17.4 per cent of the BE of 2020-21.
The CGA said the Centre’s total expenditure as of August 2021 was Rs 12.76 lakh crore or 36.7 per cent of BE.
The fiscal deficit for 2020-21 stood at 9.3 per cent of gross domestic product (GDP), better than the 9.5 per cent projected in the revised estimates in the budget in February.
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