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India's Deficit at 63% of Target: Key Data Released
27 Feb
Summary
- Fiscal deficit reached ₹9.81 lakh crore, 63% of budget target.
- Total receipts were ₹27.09 lakh crore, 79.5% of the budgeted goal.
- RBI dividend transfer significantly boosted non-tax revenue.
India's fiscal deficit for the first ten months of the current financial year has reached ₹9.81 lakh crore. This figure accounts for 63% of the full-year budget estimate. Government data indicates an improvement compared to the same period last year, when the deficit stood at 74.5% of the annual target.
During the April-January period, the central government's total receipts amounted to ₹27.09 lakh crore, which is 79.5% of the budgeted goal. Overall expenditure during this time was ₹36.90 lakh crore, representing 74.3% of the full-year target. Steady progress was observed in revenue collections.
Revenue receipts totaled ₹26.52 lakh crore, comprising ₹20.94 lakh crore from tax revenue and ₹5.57 lakh crore from non-tax sources. Tax collections reached 78.3% of the annual estimate. Non-tax revenue achieved 83.5% of its target.
A substantial contribution to non-tax revenue came from the Reserve Bank of India's dividend transfer, which was ₹2.69 lakh crore, an increase from the previous fiscal year's ₹2.11 lakh crore. The revenue deficit for the April-January period was ₹1.96 lakh crore, equivalent to 37.3% of the full financial year's budgeted estimate.
