Business

India's April-December fiscal deficit crosses 112% of target

Agency | February 05, 2019 12:45 PM

NEW DELHI: India's budgetary fiscal deficit for the April-December period stood at Rs 7.01 lakh crore or 112.4 per cent of the budgeted target of Rs 6.24 lakh crore, official data showed on Monday.

The data furnished by the Controller General of Accounts (CGA) showed that the fiscal deficit during the corresponding nine months of the previous fiscal was 13.6 per cent.

Till December, the government's total expenditure stood at Rs 18.32 lakh crore (75 per cent of the budget estimates) while the total receipts were Rs 11.30 lakh crore (62.2 per cent of the budget estimates).

This is as compared to 67.4 per cent of budget estimates received in the same period of 2017-18.

According to Devendra Kumar Pant, Chief Economist, India Ratings and Research said: "Fiscal deficit in 9MFY19 came in at 112.4 per cent of FY19 (BE) and 110.6 per cent of FY19 (RE)."

"The pressure is more visible on the revenue side rather than on the expenditure side. In order to meet FY19 (RE), monthly revenue receipts during January-March 2019 has to be 1.8x of average monthly collections in 9MFY19, which appears difficult to achieve."

Have something to say? Post your comment
Must Read
DC asks officers to speed up awareness drive to make farmers aware of benefits of PMKSN
DC asks officers to speed up awareness drive to make farmers aware of benefits of PMKSN
MP, MLAs, DC and CP greet people on Parkash Utsav of Sri Guru Ravidass Maharaj Ji
MP, MLAs, DC and CP greet people on Parkash Utsav of Sri Guru Ravidass Maharaj Ji
Punjab cabinet ministers expose Capt-Badal bonhomie on the floor of Vidhan Sabha- Bhagwant Mann
Punjab cabinet ministers expose Capt-Badal bonhomie on the floor of Vidhan Sabha- Bhagwant Mann
Car driver arrested for death by negligence
Car driver arrested for death by negligence
Ministerial staff pen down strike continued on Monday
Ministerial staff pen down strike continued on Monday
Punjab IAS officers association strongly condemns reprehensible act of terrorism in Pulwama
Punjab IAS officers association strongly condemns reprehensible act of terrorism in Pulwama
Capt Amarinder slams SAD for disrupting budget proceedings
Capt Amarinder slams SAD for disrupting budget proceedings
Mansa Saanjh Kendras reach out to people, during Jan 3681 applicants get facilities at the Kendras, SSP
Mansa Saanjh Kendras reach out to people, during Jan 3681 applicants get facilities at the Kendras, SSP
Bir Talab to have Butterfly Zone soon
Bir Talab to have Butterfly Zone soon
Punjab budget: Petrol, diesel rates slashed
Punjab budget: Petrol, diesel rates slashed
Punjab MLAs to donate a month’s salary to state’s Pulwama victims’ families
Punjab MLAs to donate a month’s salary to state’s Pulwama victims’ families
MP Chaudhary Satnokh Singh lays foundation stone of city road by allocating Rs 35 lakh from his MPLAD
MP Chaudhary Satnokh Singh lays foundation stone of city road by allocating Rs 35 lakh from his MPLAD