Tribune News Service
New Delhi, December 30
The Centre’s fiscal deficit by the end of November touched 59% of the full year’s Budget Estimates (BE) due to increased capital expenditure and slow growth in non-tax revenue. It was 46.2% in the corresponding period last year.
The fiscal deficit — difference between expenditure and revenue — was Rs 9.78 lakh crore during the April-November period, according to Finance Ministry data released on Friday. The government has budgeted fiscal deficit at Rs 16.61 lakh crore or 6.4% of the GDP for the full fiscal.
Of the two factors that led to a higher fiscal deficit, the Centre’s total expenditure during April-November was at Rs 12.24 lakh crore or 61.9% of the full year’s Budget Estimates as against 59.6% of BE in the same period last fiscal. There has been an 11% rise in revenue expenditure and 63% increase in capital expenditure.
The second factor — net tax revenue – stood at Rs 1.98 lakh crore or 63.3% of the Budget Estimates as against 73.5% in the same period last fiscal.
In the Centre’s total expenditure of Rs 12.24 lakh crore, capital expenditure was Rs 4.47 lakh crore or 59.6% of the estimates as against 49.4% in the same period last fiscal.
(This story has not been checked by JK Mega and is auto-generated from other sources)