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Government’s fiscal deficit has exceeded the budget estimate for full financial year in first 9 months (April-December) of the current fiscal. Fiscal deficit is difference between income and expenditure of the Government.
Latest data by the Controller General of Accounts shows that deficit during April-December period was over Rs 5.32 lakh crore as against budget estimate of Rs 5.31 lakh crore. This is 100.2 per cent of the estimate as against 95.2 per cent during corresponding period of the previous fiscal. The Government has repeatedly said that it will be able to contain the deficit to budget target of 4.1 per cent of GDP.
Data also reveals that net tax revenue was 55.8 per cent of the budget estimate as against 58.6 per cent during corresponding period of the previous fiscal i.e. 2013-14. While total expenditure was 68.9 per cent of the budget estimate, it is less than previous year number of 69.9 per cent.
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