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.

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