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E-mail ID will not be published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

  • It’s another challenging year for a govt that’s missed 20 of 24 targets

    The government has set an ambitious target for money to be raised through sale of public sector company shares.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

BK Chaturvedi

Corruption law calls for correction

In any country, it is its laws against corruption that ...

Kuruvilla Pandikattu SJ

Believers of the world set to rise

The world is set to become more religious as the ...

Gautam Gupta

The changing face of the fashion world

Indian fashion industry, like every fashion industry in the world, ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture