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India’s April-February Fiscal Deficit At 135.2% Of FY Aim

Tuesday,   31-Mar-2020   04:22 PM (IST)

India’s fiscal deficit in the first 11 months of the current financial year that ends today totalled 10.36 trillion rupees, widening from 8.51 trillion rupees in the comparable year-earlier period, government data showed today. Fiscal deficit for April-February was 135.2% of the government’s estimate for this financial year. The deficit was 134.2% of budget aim in the same period last year. While total expenditure stood at 24.65 trillion rupees during April-February, total receipt was at 14.29 trillion rupees, data showed. April-February total expenditure and total receipts were 91.4% and 74% of revised FY20 estimates. Government revenue totalled 13.78 trillion rupees, which was 74.5% of FY20 estimates. Net tax income totalled 11.15 trillion rupees and non-tax revenue was at 2.63 trillion rupees, which were 74.1% and 76.2%, respectively, of FY20 estimates. India’s revenue expenditure was at 21.61 trillion rupees in the first 11 months of this fiscal, 91.9% of budget aim. Capital expenditure stood at 3.05 trillion rupees for the period, 87.5% of budget aim, according to the data. While announcing the federal budget for the next fiscal starting tomorrow, the government used an escape clause under the fiscal rules to widen this year’s budget deficit to 3.8% of the gross domestic product from 3.3% earlier aim.