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Centre's April-October fiscal deficit at 36.3% of Budget estimates for FY22

The Centre's fiscal deficit for April to October is well below last year's at Rs 20,200 crore as against Rs 39,200 crore.

November 30, 2021 / 05:16 PM IST
(Representative Image)

(Representative Image)

The Centre's fiscal deficit during April to October, that is the first seven months of the year, is well below last year's at Rs 20,200 crore as against Rs 39,200 crore, CNBC-TV18 reported.

It is also 36.3 percent less than the Budget estimates for FY22, data released by the Controller General of Accounts (CGA) has revealed. The central government had set a fiscal deficit target of Rs 15.07 lakh crore for the financial year.

The CGA had stated a month ago that the union government’s fiscal deficit has worked out to be Rs 5.26 lakh crore, which was 35 percent of the budget estimates at the end of September 2021.

The deficit figures in the current fiscal appear much better than the previous financial year, when they had soared greatly, primarily due to a jump in COVID-19 related expenditures.

Meanwhile, the revenue receipts were at 70.5 percent of this year Budget estimates as against 34.2 percent last year. At the same time, total expenditure stood at 524 percent of the Budget target vs 54.6 percent last year.

The capital expenditure for the current fiscal stands at 45.7 percent of Budget estimates whereas it was 47.9 percent last year. India’s net tax collection was at 68 percent  of the FY 22 Budget target; last year it was 35.2 percent.
Moneycontrol News
first published: Nov 30, 2021 04:36 pm
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