The central government just about met its revised fiscal deficit target for 2017-18. The gap for the year ending March 31 was Rs 5.92 trillion, or 3.52 per cent of the full year’s nominal Gross Domestic Product (GDP) of Rs 167.73 trillion, showed official data released on Thursday May 31,2018
Finance Minister Arun Jaitley, in his 2018-19 budget, had revised the deficit target to Rs 5.95 trillion or 3.5 per cent of GDP, upward from the earlier Rs 5.46 trillion or 3.2 per cent. The stated reason was disruption in economic activity from lingering effects of demonetisation and rollout of a nationwide Goods and Services Tax(GST).
The controller-general of accounts (CGA) also released the monthly income data for the first month of 2018-19. April 2018 fiscal deficit as Rs 1.52 trillion or 24 per cent of the full-year target of Rs 6.24 trillion, compared with 37.6 per cent for the same period last year. This was primarily due to lower revenue expenditure, arising from lesser carried-over arrears
The CGA data shows total spending in 2017-18 was Rs 21.43 trillion or 96.6 per cent of the revised estimates. Total receipts were Rs 15.51 trn or 95.6 per cent of the full-year revised estimates. The revenue deficit was Rs 4.43 trn or 101 per cent of the full-year target.
Finance Minister Arun Jaitley, in his 2018-19 budget, had revised the deficit target to Rs 5.95 trillion or 3.5 per cent of GDP, upward from the earlier Rs 5.46 trillion or 3.2 per cent. The stated reason was disruption in economic activity from lingering effects of demonetisation and rollout of a nationwide Goods and Services Tax(GST).
The controller-general of accounts (CGA) also released the monthly income data for the first month of 2018-19. April 2018 fiscal deficit as Rs 1.52 trillion or 24 per cent of the full-year target of Rs 6.24 trillion, compared with 37.6 per cent for the same period last year. This was primarily due to lower revenue expenditure, arising from lesser carried-over arrears
The CGA data shows total spending in 2017-18 was Rs 21.43 trillion or 96.6 per cent of the revised estimates. Total receipts were Rs 15.51 trn or 95.6 per cent of the full-year revised estimates. The revenue deficit was Rs 4.43 trn or 101 per cent of the full-year target.
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