New Delhi: Financial losses account for 92 percent of the budgetary target in the second quarter. The country’s fiscal deficit is 92 per cent of the current budget year or Rs 5.05 lakh crore in the current financial year, in April-July, while the target of the full year has been fixed at 5.46 lakh crore. Official data received this information on Thursday. Data furnished by the Comptroller and Auditor General (CGA) shows that the fiscal deficit during the April-July quarter has been 73.7 per cent of the budget compared to the same period last fiscal..
Financial losses account for 92 percent of the budgetary target in the second quarter
In fiscal year 2017-18, the government has set a target to keep the difference between revenue and expenditure (fiscal deficit) at Rs 5.46 lakh crore, whereas in the previous financial year it was 5.34 lakh crore rupees.
According to the CGA data, the tax revenues during the period under review stood at Rs 2.57 lakh crore or 21 per cent of the estimates, while the government’s total revenues from non-debt capital stood at Rs 3.03 lakh crore or 19 per cent of the current budget estimate.
Figures show that the total expenditure of the government in April-July period was 8.08 lakh crore or 37.7 percent of the overall budget estimates. During the reporting period, the revenue deficit was 4.22 lakh crore rupees or 131.2 percent of the estimate.