Fiscal deficit contained, says CGA

The centre's fiscal deficit was reined in at Rs 1,25,960 crore in 2003-04 with improved receipts and cost-cutting measures, according to the...

The centre’s fiscal deficit was reined in at Rs 1,25,960 crore in 2003-04 with improved receipts and cost-cutting measures, according to the Controller General of Accounts.

Though the fiscal deficit for the last financial year worked out to 4.6 per cent of gross domestic product (GDP), which was less than the lowered target of 4.8 per cent for 2003-04, there was a shortfall in net tax revenue.

Total receipts stood at Rs 3,45,976 crore during 2003-04, surpassing the revised estimate of Rs 3,42,152 crore for the year, while expenditure was contained at Rs 4,71,936 crore compared with the revised Rs 4,74,255 crore for 2003-04.

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The government’s net tax revenues at Rs 1,86,932 crore, however, fell short of the revised estimate of Rs 1,87,539 crore in 2003-04.

Revenue deficit was reined in at Rs 98,308 crore, lower than the targeted Rs 99,860 crore in 2003-04.

The plan expenditure stood at Rs 1,22,149 crore during 2003-04 overshooting the revised target of Rs 1,21,507 crore, while non-plan expenses were Rs 3,49,787 crore a against the revised estimate of Rs 3,52,478 crore for the fiscal.

The interest payment liabilities were contained at Rs 1,24,261 crore compared with the revised target of Rs 1,24,555 crore for 2003-04.

outside the RJD party office in Patna on Friday. Partners of the alliance filed nomination papers for all 121 seats going to polls in the first phase – the total strength of the Bihar House is 243 – while talks continued to end the deadlock over seats.

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