Centre's fiscal deficit widens to Rs 6.20 lakh crore in April-September

The Centre is targeting a fiscal deficit of Rs 16.61 lakh crore for FY23, or 6.4 percent of GDP

Moneycontrol News

October 31, 2022 / 17:14 IST

The Central government's fiscal deficit widened to Rs 6.20 lakh crore in April-September, accounting for 37.3 percent of the full-year target, data released on October 31 by the Controller General of Accounts showed.

The fiscal deficit for April-September 2021 had accounted for 35 percent of the FY22 target.

The fiscal deficit in the first half of the last financial year months was Rs 5.27 lakh crore. As such, the fiscal deficit in April-September of the current financial year is 17.65 percent higher on a year-on-year basis.

The Centre is targeting a fiscal deficit of Rs 16.61 lakh crore for FY23, or 6.4 percent of GDP.

KEY HIGHLIGHTS OF CENTRE'S FINANCES FOR APRIL-SEPTEMBER (in Rs lakh crore)
	APR-SEP	% CHANGE YoY	% OF BUDGET TARGET
Fiscal deficit	6.20	17.65%	37.3%
Total receipts	12.04	9.5%	52.7%
Net tax revenue	10.12	9.9%	52.3%
Non-tax revenue	1.58	-1.7%	58.4%
Disinvestment	0.25	169%	38%
Total expenditure	18.24	12%	46.2%
Capital spending	3.42	49%	45.7%

The Centre posted a fiscal deficit of Rs 78,248 crore in September, 33 percent higher than a year ago. Its net tax revenue rose 13 percent year-on-year to Rs 3.12 lakh crore, while non-tax revenue jumped 248 percent to Rs 40,796 crore. Total receipts rose 22 percent to Rs 3.55 lakh crore.

Total expenditure, meanwhile, gained 24 percent in September to Rs 4.34 lakh crore, while capital expenditure gained 57 percent from last year to Rs 90,561 crore.

For April-September as a whole, the Centre's total receipts stood at Rs 12.04 lakh crore, up 9.5 percent, while total expenditure was 12 percent higher at Rs 18.24 lakh crore.