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The federal government’s fiscal deficit stood at Rs 4.68 lakh crore or 31.1 per cent of the Finances estimates on the finish of August, as per information launched by the Controller Basic of Accounts (CGA) on Thursday.
The deficit determine within the present fiscal seems a lot better than the earlier monetary 12 months when it had soared to 109.3 per cent of the estimates, primarily on account of a soar in expenditure to cope with the COVID-19 pandemic.
In absolute phrases, the fiscal deficit or hole between expenditure and income was Rs 4,68,009 crore at finish of August, the CGA mentioned.
For the present monetary 12 months, the federal government expects the deficit at 6.8 per cent of GDP or Rs 15,06,812 crore.
As per the information, the central authorities’s complete receipts stood at Rs 8.08 lakh crore or 40.9 per cent of the corresponding Finances Estimate (BE) 2021-22 as much as August, 2021.
The full receipts have been 16.8 per cent of the BE of 2020-21 throughout the corresponding interval of the final monetary 12 months.
Of the whole receipts, the tax income was Rs 6.44 lakh crore or 41.7 per cent of BE. The tax income was solely 17.4 per cent of BE of 2020-21 within the year-ago interval.
The CGA mentioned Centre’s complete expenditure was Rs 12.76 lakh crore or 36.7 per cent of BE as much as August 2021.
The fiscal deficit for 2020-21 was 9.3 per cent of the Gross Home Product (GDP), higher than 9.5 per cent projected within the revised estimates within the Finances in February.
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