Fiscal deficit at Rs 15L cr, 86.5% of annual target : The Tribune India

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Fiscal deficit at Rs 15L cr, 86.5% of annual target

Fiscal deficit at Rs 15L cr, 86.5% of  annual target


New Delhi, March 28

The government’s fiscal deficit at Rs 15 lakh crore at February-end touched 86.5 per cent of the revised annual target, according to official data released on Thursday.

In the corresponding period last year, the fiscal deficit — or gap between the expenditure and revenue — was 82.8 per cent of Revised Estimates (RE) of the Union Budget 2022-23.

For 2023-24, the government’s fiscal deficit is estimated at Rs 17.35 lakh crore or 5.8 per cent of the GDP.

The Central Government received Rs 22.45 lakh crore (81.5 per cent of RE 2023-24 of total receipts) up to February comprising Rs 18.49 lakh crore tax revenue (net), Rs 3.6 lakh crore of non-tax revenue and Rs 36,140 crore of non-debt capital receipts, showed data released by Controller General of Accounts (CGA).

Non-debt capital receipts consists of recovery of loans Rs 23,480 crore and miscellaneous capital receipts of Rs 12,660 crore. The CGA data on monthly account of the Union Government of India said that Rs 10.33,433 crore has been transferred to state governments as devolution of share of taxes by the Government of India up to February 2024, which is Rs 2,25,345 crore higher than the previous year.

The total expenditure incurred by the Centre was Rs 37.47 lakh crore (83.4 per cent of corresponding RE 2023-24), out of which Rs 29.41 lakh crore was on revenue account and Rs 8.06 lakh crore on capital account. Out of the total revenue expenditure, Rs 8.8 lakh crore was on account of interest payments and Rs 3.6 lakh crore on account of major subsidies.

The Centre plans to raise Rs 7.5 lakh crore through market borrowing in the April-September period of 2024-25 to fund the revenue gap. — PTI 

Govt’s gross liabilities rise to Rs 160.69l crore

  • Total gross liabilities of the government increased to Rs 160.69 lakh crore at the end of December from Rs 157.84 lakh crore at September-end, the Finance Ministry has said
  • This represented a quarter-on-quarter increase of 1.8 per cent in the September quarter of 2023-24

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