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India's fiscal deficit at 114.8% of annual target at September-end

The fiscal deficit or gap between the expenditure and revenue had breached the annual target in July this year.

October 30, 2020 / 03:21 PM IST

The government's fiscal deficit rose to Rs 9.14 lakh crore, about 114.8 percent of the annual budget estimate, during the first six months of the current financial year, mainly on account of poor revenue realisation. The revenue realisation during the current fiscal suffered on account of the lockdown imposed by the government to check the spread of coronavirus pandemic.

In absolute terms, the deficit was Rs 9,13,993 crore, as per the data released by the Controller General of Accounts (CGA). The deficit at the end of the first six months of the previous financial year was 92.6 percent of the annual target.

The fiscal deficit or gap between the expenditure and revenue had breached the annual target in July this year. The government received Rs 5,65,417 crore (25.18 percent of BE 2020-21 of total receipts) up to September, the CGA data said. The receipts were 40.2 percent of the target a year ago.

Of the total receipts, Rs 4,58,508 crore was tax revenue (Net to Centre), Rs 92,274 crore was non-tax revenue and Rs 14,635 crore non-debt capital receipts. Non-debt capital receipts consists of recovery of loans (Rs 8,854 crore) and disinvestment proceeds (Rs 5,781 crore). "Rs 2,59,941 crore has been transferred to state governments as devolution of share of taxes by Government of India up to this period, which is Rs 51,277 crore lower than the previous year," the finance ministry said in a release.