Center’s fiscal deficit hit 46.2% of its annual target at the end of November, down by Rs 6.96 Crore
The government projects the deficit at 6.8% of GDP or Rs 15,06,812 crore.
New Delhi:
The central government’s fiscal deficit at the end of November hit 46.2% of the annual budget target for the 2021-22 financial year due to improved revenue collection, according to official data released Friday. .
The deficit figure for the current fiscal year through November looks much better than the previous fiscal as it spiked to 135.1% estimated mainly due to increased spending in response to the COVID pandemic. -19.
In real terms, the deficit stood at Rs 6,95,614 at the end of November 2021 compared to an annual estimate of Rs 15.06, according to data released by the General Control of Accounts (CGA).
For the current financial year, the government projects a deficit at 6.8% of GDP or Rs 15,06,812 crore. According to the data, total government revenue at the end of November stood at Rs 13.78 lakh crore or 69.8% of the budget estimate (BE). The revenue is only 37% BE of the period 2020-21 in the last financial period.
Tax revenue (net) is to date at 73.5% of BE 2021-22. It is only 42.1% of the BE 2020-21 in the respective period of the previous fiscal. CGA data adds that total central government spending at the end of November stood at Rs 20.74 lakh crore or 59.6% BE this year.
The fiscal deficit for 2020-21 stands at 9.3% of gross domestic product (GDP), above the 9.5% forecasted in the revised estimate in the Budget in February.
