Fiscal Deficit Hits 4-Year Low

Backed by buoyant revenues the centre’s fiscal deficit for April- October came at a four year low of Rs 5.5 lakh crore or 36% of the budget estimates official data showed Tuesday. Fiscal deficit in April- October last year was 9.5lakh crore or 119.7% of the budget estimates. This is the lowest in the last four years in level terms and lowest in the last 13 years in percentage terms of the full year’s fiscal deficit.

Data released by the Controller General of Accounts (CGA) showed that the government has collected 64.7% of the budgeted revenues at Rs 12.7% lakh crore. The government’s tax receipts stood at Rs 10.53 lakh crore, non- tax receipts at Rs 2.06 lakh crore. Experts expect tax revenues to cross budgeted estimates by Rs 1.8 lakh crore but flagged dismal disinvestment receipts that could acts as a drag on overall receipts.

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