In absolute terms, the fiscal deficit was Rs 4.32 lakh crore during the quarter ending June, as per the data released by the Controller General of Accounts
The government's fiscal deficit, the gap between its revenue and expenditure, for April-June quarter stood at Rs 4.32 lakh crore, touching 61.4% of the budgeted target for 2019-20, government data showed on Wednesday.
In absolute terms, the fiscal deficit was Rs 4.32 lakh crore during the quarter ending June, as per the data released by the Controller General of Accounts (CGA).
The fiscal deficit was 68.7% of the 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.
The government has set for itself a fiscal deficit target of 3.4% of the GDP for the current fiscal.
The CGA data showed that revenue receipts of the government during April-June, 2019-20 was 14.4% of the Budget Estimate (BE), as compared to 15.5% of BE during the same period last year. In absolute terms, revenue receipts stood at Rs 2.84 lakh crore at June-end 2019. During the entire year, the revenue receipts have been pegged at Rs 19.77 lakh crore.
The capital expenditure was 18.8% of the BE. This compares with 29% in the year-ago period, according to the CGA. Total expenditure during the April-June period stood at Rs 7.21 lakh crore or 25.9% of BE. It was 29% of BE in the corresponding period last fiscal.
The government has pegged its total expenditure during the fiscal ending March 2020 at Rs 27.84 lakh crore.
The CAG said the fiscal deficit figure shown in monthly accounts during a financial year is not necessarily an indicator of fiscal deficit for the year as it gets impacted by a temporal mismatch between the flow of not-debt receipts and expenditure up to that month on account of various transitional factors both on the receipt and expenditure side.
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