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The Centre managed to keep its finances in check in 2016-17 despite a shortfall in revenue receipts.
The fiscal deficit in FY17 amounted to 3.51 per cent of GDP or ₹5.35 lakh crore, according to provisional estimates released by the Controller General of Accounts (CGA) on Wednesday.
Finance Minister Arun Jaitley had targeted a fiscal deficit of 3.5 per cent or ₹5.34 lakh crore in FY17.
The revenue deficit was, however, slightly lower at 2.02 per cent of GDP, against the Revised Estimate of 2.1 per cent. According to the CGA, the effective revenue deficit was 0.93 per cent of GDP in 2016-17, against the Revised Estimate of 0.9 per cent. Total receipts amounted to ₹14.39 lakh crore or 97.3 per cent of the Revised Estimate of ₹14.8 lakh crore. Total expenditure was also marginally lower at ₹19.74 lakh crore in 2016-17 or 98 per cent of the estimate of ₹20.14 lakh crore.
Meanwhile, the fiscal deficit in April 2017 stood at ₹2.05 lakh crore or 37.6 per cent of the full-year target.
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