Fiscal gap crosses 78% of budgeted target in first 4 months of FY20

New Delhi: The government's fiscal deficit touched Rs 5.47 lakh crore at July-end, which is 77.8% of the budget estimate for 2019-20.

In absolute terms, the fiscal deficit or gap between expenditure and revenue was Rs 5,47,605 crore at July-end, as per the data released by the Controller General of Accounts (CGA) on Friday.

The fiscal deficit stood at 86.5% of 2018-19 budget estimate in the year-ago period. The government estimates the fiscal deficit to be at Rs 7.03 lakh crore during 2019-20. It aims to restrict the deficit at 3.3% of the GDP in the current fiscal.

The CGA data showed that revenue receipts of the government during April-July, 2019-20 remained unchanged at 19.5% of the Budget Estimate (BE) compared to the corresponding period last year.

In absolute terms, revenue receipts stood at Rs 3.82 lakh crore at July-end 2019. During the entire year, the revenue receipts has been pegged at Rs 19.62 lakh crore.

The capital expenditure was 31.8% of the BE. This compares with 37.1% in the year-ago period, the CGA said. Total expenditure during April-July period stood at Rs 9.47 lakh crore or 34% of the BE. It was 36.4% of BE in the corresponding period last fiscal.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal

www.freepressjournal.in