Moneycontrol PRO
Open App
Live Now | Traders Conclave 2022 | India's Largest Retail Stock Investors & Traders Residential Conclave

Centre's fiscal deficit touches 46.2% of annual target till November-end

The deficit figures in the current financial year till November appear much better than the previous financial year when it had soared to 135.1 percent of the estimates mainly on account of a jump in expenditure to deal with the COVID-19 pandemic.

December 31, 2021 / 05:54 PM IST
Representational image.

Representational image.

The central government's fiscal deficit at the end of November worked out to be 46.2 percent of the annual budget target for the financial year 2021-22 due to an improvement in the revenue collection, according to official data released on Friday.

The deficit figures in the current financial year till November appear much better than the previous financial year when it had soared to 135.1 percent of the estimates mainly on account of a jump in expenditure to deal with the COVID-19 pandemic.

In actual terms, the deficit stood at Rs 6,95,614 crore at the end of November 2021 against the annual estimate of Rs 15.06 lakh crore, according to data released by the Controller General of Accounts (CGA). For the current financial year, the government expects the deficit at 6.8 percent of GDP or Rs 15,06,812 crore.

ALSO READ: The government must adopt expansionary fiscal measures in Budget

According to the data, the total receipts of the government at the end of November stood at Rs 13.78 lakh crore or 69.8 percent of the budget estimates (BE). The collection was just 37 percent of the BE of 2020-21 in the corresponding period last fiscal. The tax (net) revenue so far stood at 73.5 percent of the BE of 2021-22. It was only 42.1 percent of BE 2020-21 in the corresponding period of last fiscal.

Close

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show
The CGA data further said the central government's total expenditure at the end of November stood at Rs 20.74 lakh crore or 59.6 percent of this year's BE. The fiscal deficit for 2020-21 stood at 9.3 percent of the gross domestic product (GDP), better than 9.5 percent projected in the revised estimates in the Budget in February.
PTI
Sections
ISO 27001 - BSI Assurance Mark