The government's fiscal deficit for April-June period stood at 25.3 per cent of the full-year target, according to data released by the Controller General of Accounts (CGA) on Monday.
The fiscal deficit, which is the gap between expenditure and revenue, was Rs 4,51,370 crore as of end-June from Rs 2.10 lakh crore in April-May, the data said. The government, during the union budget, had announced that it plans to cut down the fiscal deficit to 5.9 per cent of the GDP in 2023-24. The deficit was 6.4 per cent of the GDP in 2022-23 against the earlier estimate of 6.71 per cent. The CGA data further showed that the net tax revenue was Rs 4,33,620 crore or 18.6 per cent of the budgetary estimate for the current fiscal.
The net tax revenue collection was 26.1 per cent during the end of June 2022. The central government's total expenditure in the first quarter of the current fiscal stood at Rs 10.5 lakh crore or 23.3 per cent of the budgetary estimate. The expenditure was 24 per cent of the budgetary estimate during the corresponding period of last year.
With inputs from Agencies