Fiscal deficit in Q1 at 56.1% of budget estimates for FY15
Jul 31 2014 , New Delhi
The fiscal deficit - gap between government expenditure and revenue - for the whole fiscal has been pegged at Rs 5.31 lakh crore.
During the April-June period of 2013-14 fiscal, the deficit was 48.4 per cent of Budget Estimates.
The fiscal deficit was Rs 5,08,149 crore or 4.5 per cent of GDP in 2013-14, down from 4.9 per cent in the previous year.
The government had put in place a fiscal consolidation roadmap as per which the fiscal deficit has to be brought down to 3 per cent of the GDP by 2016-17.
Finance Minister Arun Jaitley in his Budget 2014-15 speech pledged to restrict the deficit to 4.1 per cent of the GDP, as was proposed in the interim Budget.
The data released by the Controller General of Accounts further revealed that the total expenditure of the government during April-June was Rs 4.13 lakh crore or 23 per cent of the entire year estimates.
Of the total expenditure, plan spending was Rs 1,11,806 crore and under non-plan head it was Rs 3,01,797 crore.
Revenue collection was Rs 1,14,427 crore or 9.6 per cent of the estimate. It was 11.1 per cent of the estimates in 2013-14.
Total receipts (from revenue and non-debt capital) of the government during the three months was Rs 1,15,744 crore.
The data said revenue deficit in the three months was Rs 2,49,358 crore or 65.9 per cent of the estimates.