India's April-Oct fiscal deficit at 36.3% of full year target

India's fiscal deficit during April-October, the first seven months of current fiscal year, stood at Rs 5.47 lakh crore or 36.3 per cent of the budgeted target for the whole year, government data showed on Tuesday.

Net tax receipts were Rs 10.53 lakh crore while total expenditure was Rs 18.27 lakh crore, the data showed.

Fiscal deficit or the gap between expenditure and revenue was 119.7 per cent of the budget estimate of 2020-21 during the corresponding period last year.

In actual terms, the deficit was Rs 5,47,026 crore at end-October, 2021 against the annual estimate of Rs 15.06 lakh crore, said the data released by the Controller General of Accounts (CGA).

The fiscal deficit for 2020-21 was 9.3 per cent of the Gross Domestic Product (GDP), better than 9.5 per cent projected in the revised estimates in the Budget in February.