Fiscal deficit reaches 92.4% of budget estimates in July

The government aims to bring down the fiscal deficit to 3.2 per cent of the GDP in 2017-18.

The country’s fiscal deficit touched 92.4 per cent of the budget in July month. 
 
According to a data by the Controller General of Accounts (CGA), the fiscal deficit, in absolute terms, was Rs 5.04 lakh crore during April- July period of the current financial year. 
 
It was 73.7 per cent during corresponding period last fiscal.
 
The government aims to bring down the fiscal deficit to 3.2 per cent of the GDP in 2017-18. 
 
The deficit target in 2016-17 was 3.5 per cent of the GDP.
 
As per the data, revenue receipts, comprising taxes and other items, were 18.6 per cent of the target in the corresponding period last fiscal.
 
The government expenditure was Rs 8.08 lakh crore in July, which is 37.7 per cent of the budget estimates.
 
As per CGA, the expenditure increase was recorded in the ministries of agriculture, consumer affairs, defence and railways as compared to same period last year.
 
Source: Moneycontrol

Event date: 
Friday, September 1, 2017

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