Fiscal deficit exceeds revised Budget estimates

Tags: News
Government's fiscal deficit in the 10 months through January 2014 has overshot revised estimates of Rs 5.24 lakh crore for this fiscal provided by Finance Minister P Chidambaram in his interim Budget last week.

According to the data released by Controller General of Accounts (CGA) today, the fiscal deficit during April-January 2013-14 worked out to be Rs 5.32 lakh crore or 101.6 per cent of the revised estimates.

The government had in the budget for 2013-14 proposed to bring down the fiscal deficit to 4.8 per cent of GDP or Rs 5.42 lakh crore. This figure, however, was revised downwards in the interim budget to Rs 5.24 lakh crore or 4.6 per cent of the GDP.

With actual figures for February and March yet to come, it would be difficult for the government to restrict fiscal deficit, which is a reflection of government's market borrowings to revised level.

As per the CGA data, the revenue deficit during the 10- month period through January was Rs 3,78,850 crore or 102.3 per cent of the revised estimate.

Government's total expenditure, however, was only 79.8 per cent of the revised estimates of Rs 15,90,434 crore.

The data further revealed that revenue receipts during April-January period was Rs 7,21,905 crore or 70.1 per cent of the revised estimates.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Bureaucrats have enjoyed flying miles at taxpayer expense for too long

    The beleaguered Indian taxpayer will certainly applaud prime minister Narendra Modi’s attempt to deliver on his promise of cutting down fiscal defic

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

<b>Riskfactor</b>: CHAIN REACTION

A domino effect is the cumulative effect produced when one ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture