Govt meets 4.1% FY15 fiscal deficit target: Sources

As the fiscal year, 2014-15, draws to a close today, the government has managed to contain its fiscal deficit at 4.1 percent of gross domestic product that it had outlined in the Budget last year and reiterated this year.

Sources have told CNBC-TV18 that the deficit, which is the difference between government expenditure and revenues, was indeed contained at the outlined target despite recent concerns that the target may be breached eventually.

The reason for the concerns arose out of tax revenues falling drastically short of projected targets as well as the Supreme Court’s decision to strike down the government’s move mandating telecom companies to pay an upfront amount with respect to the recent telecom auction in this fiscal itself.

Sources say that the government did succeed in earning about Rs 7,000-8,000 crore from telecom companies. A Rs 10,000 crore interim dividend from NTPC also came in handy.