Govt debt up by 2.7%; gross fiscal revenue,deficits widen

Government debt rose by 2.7 per cent to Rs 32.13 lakh crore at the end of September quarter over the previous quarter due to increased market borrowings the Finance Ministry said on Monday.

Revenue deficit and gross fiscal deficit during the first half of FY-12,at 72.2 per cent and 68 per cent of Budget Estimates,were higher than those during the same period last year mainly reflecting the impact of large refunds under direct taxes this year and higher telecom receipts in the last year, the Finance Ministry said in its quarterly report on Public Debt Management.