The government's fiscal deficit rose to Rs 6.43 lakh crore in April - August period, compared to Rs 6.06 lakh crore April-July period, according to data released by the Controller General of Accounts (CGA) on Friday.
The fiscal deficit for April-August stood at 36 percent of the FY2024 target of Rs 17 lakh crore. During the same period, the revenue gap amounted to Rs 2.84 lakh crore compared to 3.21 lakh crore the previous year .
The spending in August reached Rs 2.91 lakh crore, up from Rs 2.63 lakh crore in the previous year.
During April - August, the Capex (capital expenditure) amounted to Rs 37.74 lakh crore, a significant increase from the previous year's Rs 2.52 lakh crore. In August, there was a revenue surplus of Rs 17,800 crore, contrasting with the Rs 1.59 lakh crore deficit recorded in the previous year.
The fiscal deficit for August reached Rs 37,200 crore, compared to the previous year's Rs 2 lakh crore. In terms of revenue, August saw receipts totaling Rs 2.54 lakh crore, a substantial rise from the previous year's Rs 62,500 crore. The August's revenue expenditure was Rs 2.34 lakh crore, compared to Rs 2.2 lakh crore in the previous year.
The tax revenue for the period of April - August amounted to Rs 11.89 lakh crore, showing growth compared to the Rs 10.21 lakh crore reported YoY. In August, the tax revenue reached Rs 2.95 lakh crore, a substantial increase from the previous year's Rs 1.51 lakh crore. Additionally, the capital expenditure (capex) for August was recorded at Rs 56,700 crore, surpassing the previous year's figure of Rs 43,700 crore.