Delhi New: The central government’s fiscal deficit reaches Rs 1.23 lakh crore or 8.2 percent of the estimate of a full year budget at the end of May 2021, according to the data released by the General Controller account (CGA).
The fiscal deficit at the end of May 2020 was 58.6 percent of budget estimates (BE) from 2020-21.
In the absolute term, the fiscal deficit was Rs 1,23,174 Crore at the end of May 2021.
The government expects a fiscal deficit for 2021-2022 at 6.8 percent of GDP or RS 15.06,812 Crore.
The fiscal deficit or gap between expenditure and income for 2020-21 is 9.3 percent of gross domestic product (GDP), an increase of more than 9.5 percent projected in revised estimates in the budget in February.
In accordance with CGA data, the center receives RS 3,54,787 Crore (17.95 percent of total acceptance of 2021-22 of total acceptance) for May 202.
It consists of RS 2.33 Lakh Crore Tax (Clean to Center), Rs 1.16 lakh Crore from non-tax revenues and Rs 4,810 Crore from non-debt capital revenues.
Non-debt capital revenue consists of RS 815 Crore loan recovery and the application of RS 3,995 Crore results.
The total receipt is 2 percent of the period in the last fiscal period.
Furthermore, said Rs 78,349 Crore was transferred to the state government as a tax share devolution by the Indian government to May, namely Rs 13,728 Crore lower than the previous year.
The total expenditure issued by the center is Rs 4,77,961 Crore (13.72 percent), where RS 4.15 lakh Crore is in the income account and RS 62,961 Crore on a capital account.
Of the total income expenditure, RS 88,573 Crore is for interest payments and RS 62,664 Crore because of the main subsidies.