Centre’s fiscal deficit touches 21.3% of annual target at July-end

Aug 31, 2021

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NEW DELHI: The central authorities’s fiscal deficit stood at Rs 3.21 lakh crore or 21.3 per cent of the finances estimates on the finish of July, as per the information launched by the Controller Basic of Accounts (CGA) on Tuesday.
The deficit figures this fiscal seem a lot better than the earlier monetary 12 months, when it soared to 103.1 per cent of the estimate, primarily on account of a leap in expenditure to cope with the Covid-19 pandemic.
The fiscal deficit or the hole between expenditure and income for 2020-21 was 9.3 per cent of the Gross Home Product (GDP), higher than 9.5 per cent projected within the revised estimates within the Finances in February.
As per the information, the central authorities’s whole receipts stood at Rs 6.83 lakh crore or 34.6 per cent of corresponding BE 2021-22 as much as July 2021. The whole receipts have been 10.4 per cent of the BE of 2019-20 in the identical interval of the final monetary 12 months.
Of the full receipts until July 2021, Rs 5,29,189 crore was tax income (internet to centre), Rs 1,39,960 crore non-tax income and Rs 14,148 crore non-debt capital receipts.
Non-debt capital receipts encompass restoration of loans value Rs 5,777 crore and disinvestment proceeds of Rs 8,371 crore.
Additional, Rs 1,65,064 crore was transferred to state governments as devolution of share of taxes by the Centre as much as July 2021.
The federal government’s whole expenditure was Rs 10.04 lakh crore or 28.8 per cent of the corresponding BE 2021-22. The expenditure was 34.7 per cent of BE of 2019-20 in the identical interval final fiscal.
Of the full expenditure in the course of the first 4 months of the present fiscal, Rs 8,76,012 crore was on the income account and Rs 1,28,428 crore on the capital account.
Out of the full income expenditure, Rs 2,25,817 crore was on account of curiosity funds and Rs 1,20,069 crore in direction of main subsidies.



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