Industry & Economy
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Economy
Fiscal deficit up 30.79 pc in Q1
Our Bureau
New Delhi
,
Aug. 1
THE Central Government's fiscal deficit for the first quarter ended June 30 surged 30.79 per cent to touch Rs 54,517 crore against Rs 41,683 crore recorded in the same period last year.
The fiscal deficit for June 2005 stood at Rs 6,914 crore, reflecting a 159-per cent increase over Rs 2,699 crore recorded in the same month last year.
The lower non-debt capital receipts have somewhat exacerbated the fiscal deficit during the first quarter of the current fiscal.
The revenue receipts of the Centre for April-June 2005 stood at Rs 38,003 crore, which is 24.07 per cent more than the revenue receipts of Rs 30,631 crore recorded in the same period last year.
The fiscal deficit of Rs 54,517 crore for April-June 2005 represented 36.1 per cent of the fiscal deficit of Rs 1,51,144 crore estimated for the full year, according to the latest data released by the controller general of accounts.
The budgeted fiscal deficit of Rs 1,51,144 crore is 4.3 per cent of the estimated gross domestic product for fiscal 2005-06.
Meanwhile, the revenue deficit of the Centre in the first quarter of the current fiscal stood at Rs 47,311 crore (Rs 46,394 crore), representing 49.63 per cent of the estimated revenue deficit of Rs 95,312 crore for the current fiscal.
Aided by buoyant customs duty and corporation tax collections in the first quarter, the Centre's gross tax revenues during April-June 2005 stood at Rs 52,283 crore against Rs 41,511 crore in the same period last year. Net tax revenues (after assignment to States) for April-June 2005 stood at Rs 31,668 crore.
While gross customs duty collections for the first quarter stood at Rs 14,788 crore (Rs 10,672 crore), excise duty collections in the same period stood at Rs 14,264 crore (Rs 13,711 crore).
On the income tax front, personal income tax collections for April-June 2005 stood at Rs 8,211 crore (Rs 10,482 crore).
Corporation tax collection in the first quarter of the current fiscal stood at Rs 11,147 crore (Rs 3,950 crore).
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