Fiscal deficit touches 87% of budget aim in Apr-Nov

Fiscal deficit touches 87% of budget aim in Apr-Nov

FPJ BureauUpdated: Friday, May 31, 2019, 07:32 PM IST
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New Delhi : Fiscal deficit in the first eight months of current fiscal reached Rs 4.83 lakh crore, or 87 % of the Budget Estimate (BE) for the whole 2015-16, reports PTI.

The fiscal situation in April-November showed improvement over the year-ago period as the deficit then stood at 98.9 % of the Budget Estimate of 2014-15.

The fiscal deficit for 2015-16 was pegged at Rs 5.55 lakh crore for the whole year in the Budget presented by Finance Minister Arun Jaitley.

As per the data released by the Controller General of Accounts, tax revenue came in at Rs 4.64 lakh crore, or 50.5 % of the full year BE of Rs 9,19,842 crore.  Non-Plan expenditure stood at Rs 8.4 lakh crore, or 64.3% of the whole-year estimate.

The revenue deficit stood at Rs 3.45 lakh crore.

Debt Mgmt Strategy

With an aim to better manage public borrowing, government plans to switch Rs 50,000 crore high cost debt each in 2016-17 and 2017-18 into instruments of longer term maturity.

While releasing Medium-Term Debt Management Strategy (MTDS), the Finance Ministry said the objective of the debt management strategy (DMS) is to secure the government’s funding at all times at low cost over the medium /long-term while avoiding excessive risk.

It also said the borrowing cost in the domestic market is expected to be lower in 2015-16 due to reversal in the interest rate cycle.

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