NEW DELHI, Nov 1 (NNN-PTI) – India’s federal fiscal deficit, in the first half of the financial year through Sept, rose to 6.20 trillion rupees (74.91 billion U.S. dollars), officials said.
According to data, released by the federal finance ministry’s Controller General of Accounts, the government’s fiscal deficit, during the period of Apr-Sept, touched 37.3 percent of annual estimates, widening from 35 percent for the corresponding period of the previous year.
The government’s total receipts, including taxes, stood at 12.04 trillion rupees (145.4 billion U.S. dollars) or 52.7 percent of budget estimates (BE) for financial year 2022-23.
Total expenditure for the first six months of the current financial year was 18.24 trillion rupees (220.3 billion U.S. dollars), the data showed.
As per the data, the net tax revenue rose to 10.12 trillion rupees (122.2 billion U.S. dollars), while non-tax revenue was 1.58 trillion rupees (19 billion U.S. dollars).
Revenue deficit was at 3.11 trillion rupees (37.6 billion U.S. dollars ) or 31.4 percent of the financial year’s budget target, the data showed.
In Feb, while presenting the annual budget, federal Finance Minister, Nirmala Sitharaman, set the fiscal deficit target at 6.4 percent of GDP for financial year 2022-23 starting Apr, compared to 6.7 percent in the previous financial year.– NNN-PTI
