Industry & Economy
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Economy
Centre hopeful of meeting fiscal, revenue deficit targets
Our Bureau
New Delhi
,
Sept. 16
THE Government has expressed confidence over meeting the revenue as well as fiscal deficit targets budgeted for the current fiscal, despite the emergence of new expenditure commitments from development programmes such as the National Rural Employment Guarantee Scheme (NREG).
"Fiscal and revenue deficit targets are not unmanageable. This is despite new commitments such as NREG. There may be minor deviations from what it should be if targets are seen on a monthly basis," Mr Adarsh Kishore, Expenditure Secretary in the Ministry of Finance, told newspersons on the sidelines of workshop on `Accrual Accounting' organised by the Controller General of Accounts on Friday.
Mr Kishore said revenue collections in the current fiscal were improving and that the second quarter expenditures were under control. "I also don't see any bunching of expenditure that would create expenditure shocks in the coming months."
The Centre's fiscal deficit for April-July 2005 stood at Rs 77,480 crore, which is more than 50 per cent of the budget estimate of Rs 1,51, 144 crore for 2005-06. The revenue deficit for April-July 2005 stood at Rs 68,929 crore, which is about 72.3 per cent of the budget estimate of Rs 95,312 crore for 2005-06.
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