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Fiscal deficit touches Rs 5.47 lakh crore at July-end

According to data released by the Controller General of Accounts (CGA) on Friday, the fiscal deficit — or gap between expenditure and revenue — in absolute terms was Rs 5,47,605 crore at the end of July.

By: ENS Economic Bureau | New Delhi |
August 31, 2019 2:26:48 am
gdp, per capita income, growth, financial growth, economic growth, indian economy, indian express According to data released by the Controller General of Accounts (CGA) on Friday, the fiscal deficit — or gap between expenditure and revenue — in absolute terms was Rs 5,47,605 crore at the end of July. (Representational)

The government’s fiscal deficit as of July-end reached Rs 5.47 lakh crore — 77.8 per cent of the Budget Estimate (BE) for the current fiscal.

According to data released by the Controller General of Accounts (CGA) on Friday, the fiscal deficit — or gap between expenditure and revenue — in absolute terms was Rs 5,47,605 crore at the end of July.

The deficit stood at 86.5 per cent of 2018-19 BE in the year-ago period. The Centre estimates the fiscal deficit to be at Rs 7.03 lakh crore during2019-20.

It aims to limit the deficit at 3.3 per cent of the gross domestic product (GDP) in the current financial year.

According to the CGA data, the government’s revenue receipts during the April-July period of this fiscal was unchanged at 19.5 per cent of the BE, as against the corresponding period last year.

In absolute terms, revenue receipt was at Rs 3.82 lakh crore as of July-end 2019.

For the entire year, the revenue receipts have been pegged at Rs 19.62 lakh crore.

The CGA said that the capital expenditure was 31.8 per cent of the BE. This compares with 37.1 per cent in the year-ago period, it added.

Meanwhile, total expenditure in April-July period stood at Rs 9.47 lakh crore or 34 per cent of the BE. The expenditure was 36.4 per cent of the BE in the corresponding period last fiscal. The Centre has pegged its total expenditure during the fiscal ending March 2020 at Rs 27.86 lakh crore.

The CGA further said the fiscal deficit figure in monthly accounts during a financial year is not necessarily an indicator of fiscal deficit for the year.

Its data gets impacted by temporal mismatch between flow of non-debt receipts and expenditure up to that month on account of various transitional factors both on receipt and expenditure side, which may get substantially offset by the end of the financial year.

(with PTI)

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