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Jaipur: Fiscal deficit at 2.98% of GSDP

Govt has not imposed any new tax, instead has given relief of Rs 650 cr

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The state government has not imposed any new tax and has given tax relief of approximately Rs 650 crores in this budget.

However, there has been a rise in the fiscal deficit for the year 2017-18.

In 2017-18, the budget estimate of fiscal deficit was Rs 24753.53 crore while the revised estimate is Rs 29091.91 crores. This means that there has been an increased difference between what was estimated and what actually was the fiscal deficit in this financial year.

The budget figures now reveal that the estimated fiscal deficit for 2018-19 will be Rs 28011.21 crore which is 2.98% of the GSDP. However, will the fiscal deficit will be more will depend on the income of the state and GSDP and will be clear by end of the financial year only.

Moreover, there is also an increase in the estimated revenue deficit compared to 2017-18.

In the financial year 2018-19, revenue deficit without UDAY effect has been kept as Rs 5454 crores 85 lacs while in 2017-18 it was kept at Rs 1528 crores only but in revised estimate, it came up to Rs 8165 crore. The government has estimated that it will meet out its expenditure including the various rebates it will be giving in this budget from the total income which will be higher by 12.12%.

It informed that its estimated own tax revenue will be Rs 58099 crores against Rs 51816 crores in 2017-18 revised estimate.

The good thing is that the estimated fiscal deficit for 2018-19 Rs 28011.21 which is 2.98 % of GSDP and is well within the limits prescribed under FRBM.

FISCAL DEFICIT:

The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings needed by the government. While calculating the total revenue are not included.

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