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Fiscal deficit touches 52% of budget estimate in first two months of FY20

In absolute terms, the fiscal deficit or gap between expenditure and revenue, was Rs 3,66,157 crore, as per the data released by the Controller General of Accounts (CGA).

twitter-logo PTI   New Delhi     Last Updated: June 28, 2019  | 18:55 IST
Fiscal deficit touches 52% of budget estimate in first two months of FY20
Fiscal deficit

The government's fiscal deficit touched 52% of the budget estimate for the full year in the first two months of 2019-20.

In absolute terms, the fiscal deficit or gap between expenditure and revenue, was Rs 3,66,157 crore, as per the data released by the Controller General of Accounts (CGA).

The fiscal deficit was 55.3% of 2018-19 budget estimate in the year-ago period.

In the Interim Budget passed in February, the government had estimated the fiscal deficit at Rs 7.03 lakh crore for 2019-20.

The government aims to restrict the fiscal deficit at 3.4% of the GDP during the current fiscal, same as the last financial year.

The CGA data showed that revenue receipts of the government during April-May, 2019-20 was 7.3% of the Budget Estimate (BE). In the year-ago period also, the revenue receipts were at similar level.

However, the capital expenditure was only 14.2 % of the BE as compared to 21.3% in the year-ago period.

Total expenditure during April-May period stood at Rs 5.12 lakh crore or 18.4 % of BE. It was 19.4% of BE in the corresponding period of the last fiscal.

Also read: India's forex reserve hits record high of $426.42 billion

Also read: EPFO to stick to 8.65% interest rate on provident fund deposits for FY19

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