PM Modi worried as fiscal deficit races ahead
New Delhi, Nov 30 India's budgetary fiscal deficit for the first seven months of 2017-18 stood at 96.1 percent -- Rs 5.25 lakh crore -- of the full year's target of Rs 5.46 lakh crore, official data showed on Thursday.
The data furnished by the Comptroller General of Accounts (CGA) showed that April-October fiscal deficit was 79.3 percent of the budget in the like period of the last fiscal.
According to the CGA data, net of tax revenue during the period under review was Rs 6.33 lakh crore, or 51.6 percent of the estimates.
The total receipts -- from revenue and non-debt capital -- during the fiscal's first seven months were Rs 7.67 lakh crore, or 48 percent of the estimates for the current year.
The data revealed that total expenditure -- incurred on revenue and capital -- during the April-October period was Rs 12.92 lakh crore, or at 60.2 percent of the entire fiscal's estimate.
The 2017-18 deficit -- the difference between revenue and expenditure -- has been pegged at Rs 5.46 lakh crore for 2017-18, as compared to the deficit of Rs 5.34 lakh crore for the last fiscal.