Four months’ fiscal deficit breaches full year’s target

The total budgeted expenditure for the financial year stands at Rs 17,94,892 crore.

By: ENS Economic Bureau | New Delhi | Updated: August 29, 2014 8:32 pm

Fiscal deficit during the first four months of the current fiscal breached 60 per cent of full year’s target, raising concerns for the government, which aims to bring it down to 4.1 per cent by the end of the financial year.

According to the data released by the Controller General of Accounts Friday, the fiscal deficit for the April-July period stood at Rs 3,24,924 crore, 61.2 per cent of the Budget estimate of Rs 5,31,177 crore. The fiscal deficit – total receipts over total expenditure – was 62.8 per cent of the Budget estimate during the same period in the last financial year.

During the period, the government garnered just 14.2 per cent of the budgetary revenue target, to stand at Rs 1,79,016 crore. The government aims to mop up Rs12,63,715 crore in 2014-15. During the corresponding period last fiscal, the exchequer had raked in 16.1 per cent of the yearly target.

However, the expenditure during the four-month period crossed 28.1 per cent of the budgetary target to stand at Rs 5,03,940 crore.

The total budgeted expenditure for the financial year stands at Rs 17,94,892 crore.

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  1. S
    Aug 29, 2014 at 5:53 pm
    Energy, food , water , education, health and security is heavily subsidized mainly forunderprivileged by government by an amount which is more than total fiscaldeficit in our country while rich are spending and wasting like anything on thembenefiting private players. What is unfortunate that majority of subsidies providedby government is being illegally or legally being cornered by those who canafford or who are dishonest. What is most unfortunate is that nothing is beingdone to get used or to get developed free cheaper and infinite energy, food, water,education, health and security resources, thousands of times more than entireGDP of the nation, even by or even for the needy. Really there is no one at anylevel to take care the resources underutilized and money spent in this poorest,most unruly and densely poted nation. Wish God will save and help the nation.