India's fiscal deficit narrows to Rs 2.74 lakh crore
New Delhi: The central government proclaimed on friday that its fiscal deficit attained at Rs 2.74 lakh crore in the first quarter of the current year.
By the end of june 2020, the fiscal deficit was 83.2 per cent Budget Estimates (BE) for the fiscal year 2020-2021 at Rs 6.62 lakh crore. The downfall has happened due to a drop in tax receipts, induced by the lockdown, and that has headed to the worst slowdown in seven decades.
The gap between the revenue and expenditure of the central government is called the fiscal deficit. 5.47 lakh crore to the central government from april to june of the current financial year 2021-22. During the same period, expenditure stood at Rs 8.21 lakh crore. As a result, there is a fiscal deficit of 2.74 lakh crore rupees.
This is 18.2 per cent of the budget estimate. During the same period last fiscal, the fiscal deficit was 83.2 per cent, according to the office of Public Accounts Control. The fiscal deficit for the current fiscal is projected at 6.8 per cent of GDP, or 15 lakh 6,812 crore rupees.
The sum received till now adds up to 27% of the Budget Estimates (BE) for the current financial year 21-22. The sum comprises Rs 4,12,680 crore obtained through tax revenue, Rs 1,27,317 crore for non tax revenue and Rs 7,402 crore through non-debt receipts.These non-debt receipts additionally consist of Rs 3,406 crore obtained via loan recoveries and Rs 3,996 crore via disinvestment proceeds.