New Delhi: The government’s fiscal deficit reached Rs 4.68 lakh Crore or 31.1 percent of the budget estimate at the end of August, according to the data released by the General Controller account (CGA) on Thursday.
The current deficit number in fiscal seems much better than the previous financial year when it has surged to 109.3 percent of estimates, mainly due to spurs to handle Covid-19 pandemics.
In absolute, fiscal deficit or gap between expenses and income is Rs 4,68,009 Crore at the end of August, CGA said.
For the current financial year, the government expects a deficit at 6.8 percent of GDP or Rs 15.06,812 Crore.
In accordance with data, the total receipt of the central government reached Rs 8.08 lakh crore or 40.9 percent of the appropriate budget estimation (BE) 2021-22 to August, 2021.
Total receipt was 16.8 percent from 2020-22 during the appropriate period Last financial year.
Of the total receipts, tax revenues are Rs 6.44 Lakh Crore or 41.7 percent.
Tax revenues are only 17.4 percent from 2020-21 in the last year period.
Total CGA expenditure said Rs 12.76 lakh crore or 36.7 percent until August 2021.
The fiscal deficit for 2020-21 is 9.3 percent of gross domestic product (GDP), better than 9.5 percent projected in estimates Revised in the budget in February.