Feb 06, 2016 03:30 PM IST | Source: CNBC-TV18

Government confident of meeting FY16 fiscal deficit target: Srcs

Sources tell CNBC-TV18, that the total revenue shortfall is likely to be below Rs 10,000 crore, despite corporate tax and disinvestment receipts expected to miss budget estimates by a wide margin.

Government confident of meeting FY16 fiscal deficit target: Srcs
The government on its part seems confident of meeting the fiscal deficit target for the current financial year.

Sources tell CNBC-TV18, that the total revenue shortfall is likely to be below Rs 10,000 crore, despite corporate tax and disinvestment receipts expected to miss budget estimates by a wide margin.

Additional revenue raising measures, namely the five excise hikes on petrol and diesel in the last two months have helped the government stay the 3.9 percent course.

In addition, unspent funds, to the tune of almost Rs 28,000 crore, mainly from Defence and Railway Ministries, are also helping the government stay within the deficit red line.

The Finance Ministry, however, has clarified that if required, ministries will be given additional funds through a supplementary in March and these numbers should not be treated as a cut in expenditure.
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