Fiscal deficit touches 27% of Budget Est
The central government's fiscal deficit touched 27 per cent of the the budget estimates (BE) in the first two months of the current financial year, despite increase in revenue receipt.
In absolute terms, the fiscal deficit in the April-May period of the current fiscal stood at Rs 1.41 lakh crore, as per the latest data of the Controller General of Accounts (CGA).
For the full 2012-13 fiscal, the government has budgeted the fiscal deficit at Rs 5.13 lakh crore, or 5.1 per cent of GDP.
Last fiscal during the same period, the fiscal deficit was 32 per cent of the BE amounting Rs 1.3 lakh crore.
Overall while the government was able to increase its revenue receipts, on the expenses front too it was able to cut down, mainly the plan expenditure.
The revenue receipts in the two months period stood at Rs 47,897 crore, which was 5.1 per cent of the budget estimates.
Total expenditure of the government was Rs 1.90 lakh crore, or 12.8 per cent of the budget estimates.
The revenue deficit was 34 per cent of the budget estimates at Rs 1.18 lakh crore and the primary deficit was 50 per cent of the budget estimates in the April-May period.
SOURCE: financialexpress.com
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