April-May Fiscal Deficit is 45.6% of Budget

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New Delhi: Fiscal deficit, the gap between expenditure and revenue, in the first two months of 2013-14 was Rs 2.4 lakh crores or 45.6% of Budget Estimates for the whole financial year; which for the whole fiscal has been pegged at Rs 5.28 lakh crores.

Source: Business-standard.com

Source: Business-standard.com

It was 33.3 per cent of Budget Estimates at the same stage in last year. In FY2013-14 , the fiscal deficit was Rs. 5,08,149 crores or 4.5 per cent of GDP, down from 4.9 % in the previous year.

Government had prepared a fiscal consolidation roadmaps per which the fiscal deficit has to be brought down to 3% of GDP by 2016-17.

Arun Jaitley, the Finance Minister is scheduled to present the new government’s maiden budget on July 10 in which he will spell out the fiscal policies.

P Chidambaram, the Former Finance Minister, in his Interim Budget speech had set the fiscal deficit target for 2014-15 at 4.1 % of the GDP. Data released by the controller and accounts general further revealed that the total expenditure of the government during April and May was Rs 2.8 lakh crores or 15.9 per cent of the entire year estimates.

Of the total expenditure, plan spending was Rs 59,609 crores and under non-plan head it was Rs 2,20,730 crores. Revenue collection was Rs 38,505 crores or 3.3 per cent of the estimate. It was 3.4 per cent of the estimates in 2013-14.

Total receipts of the government during the two months was Rs 39,502 crores. According to the data, revenue deficit in the two months was Rs 2,05,080 crores or 53.6% of the estimates.

 

Source: INBLive.com

Posted in: Budget 2014

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