April-May fiscal deficit at 37.5% of Budget estimates

The fiscal deficit in the first two months of current fiscal stood at Rs 2.08 lakh crore or 37.5% of Budget estimates for 2015-16.

The fiscal situation during April-May, 2015-16 showed some improvement over the corresponding period of last year as the deficit then was 45.3% of the Budget estimates.

The fiscal deficit -- gap between expenditure and revenue -- for the entire current fiscal has been pegged at Rs 5.55 lakh crore.

As per the data released by the Controller General of Accounts, tax revenue was Rs 19,889 crore or 2.2% of the estimate.

Total receipts (from revenue and non-debt capital) of the government during the two months was Rs 54,207 crore or 4.4% of the estimates for the current year.

It was 3.1% of the estimates for 2014-15.

Total expenditure of the government during April-May was Rs 2.62 lakh crore or 14.8% of the entire year estimates.

Of the total expenditure, plan spending was Rs 62,106 crore and non-plan was over Rs 2 lakh crore.

The revenue deficit during the two month was over Rs 1.72 lakh crore or 43.8% of the estimates, CGA data showed.

For the 2015-16 year, the government aims to restrict fiscal deficit to Rs 5.55 lakh crore or 3.9% of the GDP.

The fiscal deficit was Rs 5.01 lakh crore or 4% of GDP in 2014-15, down from 4.1% pegged in the revised estimate.