Business
Fiscal deficit exceeds budget estimates in 9 months
New Delhi, Jan 30
The Indian government's
fiscal deficit has exceeded the budget estimate within the first nine
months of the current fiscal, data showed Friday at a time it has
recovered ground somewhat by earning over Rs.22,000 crore from
disinvestment in Coal India.
Latest data by the Controller
General of Accounts shows that deficit during April-December period was
over Rs.532,000 crore as against the annual budget estimate of
Rs.531,000 crore.
Crossing 100 percent of the estimate in the
first nine months compares with the figure of 95.2 percent during
corresponding period of the previous fiscal.
On the revenue side,
data showed that net tax revenue was 55.8 percent of the budget
estimate as against 58.6 percent during corresponding period of 2013-14.
Total
expenditure was 68.9 percent of the budget estimate, compared to 69.9
percent in the same period of the previous financial year.
The government has set the target of containing the deficit to 4.1 percent of the Gross Domestic Product (GDP).