Fiscal deficit improves to 6.7% in FY22 on higher tax mop-up

New Delhi, May 31

Fiscal deficit for 2021-22 improved to 6.71% of the GDP over the revised Budget Estimate of 6.9% on account of higher tax mop-up.

Bbeats Estimates

• Fiscal deficit in absolute terms was Rs 15.86 lakh crore (provisional)
• The FinMin had estimated the deficit at Rs 15.91 lakh cr or 6.9% of GDP

Unveiling the revenue-expenditure data of the Union government for 2020-21, the Controller General of Accounts (CGA) said the fiscal deficit in the absolute terms was Rs 15,86,537 crore (provisional). The Finance Ministry in February had estimated the deficit at Rs 15,91,089 crore or 6.9% of GDP.

The tax receipts during the fiscal were at Rs 18.2 lakh crore as against the revised estimates (RE) of Rs 17.65 lakh crore. The total expenditure too was higher at Rs 37.94 lakh crore against the RE of Rs 37.7 lakh crore. The CGA further said the revenue deficit at the end of the fiscal was 4.37% for fiscal 2021-22.