April-Nov fiscal deficit hits 112% of full-year target

 

New Delhi, Dec 29: India reported a fiscal deficit of Rs 6.12 lakh crore ($95.77 billion) for April-November or 112 per cent of the budgeted target for the current financial year that ends in March.
Net tax receipts in the first eight months of 2017/18 financial year were Rs 6.99 lakh crore ($109.39 billion), government data showed on Friday.
On Wednesday, the finance ministry said it would borrow an additional Rs 50, 000 crore ($7.82 billion) this financial year that could lead to it breaching its fiscal deficit target of 3.2 per cent of the gross domestic product.
The data furnished by the Comptroller General of Accounts (CGA) showed that April-November fiscal deficit was 85.8 per cent of the Budget in the like period of the last financial year.
The total receipts — from revenue and non-debt capital — during the financial year’s first eight months were Rs 8.66 lakh crore, or 54.2 per cent of the estimates for the current year.
The data revealed that total expenditure — incurred on revenue and capital — during the April-November period was Rs 14.78 lakh crore, or at 68.9 per cent of the entire financial year’s estimate.
The 2017-18 deficit — the difference between revenue and expenditure — has been pegged at Rs 5.46 lakh crore for 2017-18, as compared to the deficit of Rs 5.34 lakh crore for the last financial year.