Higher revenue expenditure on account of front-loading of subsidy payments pushed the Centre’s fiscal deficit for the first three months of FY17 to about Rs 3.26 lakh crore or 61.1 per cent of the full-year target of Rs 5.34 lakh crore. In the same period last year, the deficit was 51.6 per cent of the corresponding annual target.
Capital expenditure — including Plan and non-Plan components — stood at Rs 48,996 crore or 19.8 per cent of the full-year target in Q1 this year as against Rs 58,609 crore (24.3 per cent) in the corresponding quarter last fiscal. Plan expenditure stood at Rs 1.47 lakh crore or 26.8 per cent of the full-year estimate, an improvement compared to Rs 1.15 lakh crore (24.7 per cent) in the year-ago period. Spending on rural and urban development, agriculture and human resource development topped this category. Non-Plan expenditure stood at Rs 3.64 lakh crore in Q1FY17, or 25.5 per cent of the full year target as compared to Rs 3.16 lakh crore, or 24.1 per cent of last year’s target during the quarter.