Millennium Post

10-month fiscal deficit crosses full-year target

Fiscal deficit rose to Rs 5.68 lakh crore in April-January period, breaching the budget estimate by 107 per cent which may call for harder measures by the government to meet the target of 4.1 per cent of the GDP for full 2014-15 financial year.

As per the data released by Controller General of Accounts (CGA) on Monday, fiscal deficit during April-January period was Rs 5.68 lakh crore or 107 per cent of the 2014-15 budget estimate of Rs 5.31 lakh crore by January-end.

The overshooting of fiscal deficit is mainly attributed to subdued revenue realisation. The fiscal deficit, the difference between government expenditure and revenue, during April-January period of 2013-14 stood at 98.2 per cent.

In the Budget speech on Saturday, Finance Minister Arun Jaitley had said government would achieve the 4.1 per cent fiscal deficit target in 2014-15.
PTI

PTI

Our contributor helps bringing the latest updates to you


Share it
Top