Industry & Economy
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Economy
Centre's fiscal deficit up 48.17 pc in April-Oct
Our Bureau
New Delhi
,
Dec. 1
THE Centre's fiscal deficit has recorded a 48.17 per cent increase during April-October 2005 to Rs 92,068 crore, as compared to deficit level of Rs 62,135 crore recorded in the same period last year.
The fiscal deficit of Rs 92,068 crore represents 60.9 per cent of the budgeted fiscal deficit of Rs 1,51,144 crore for 2005-06.
According to the latest data on Central Government accounts made available by the Controller General of Accounts (CGA), the revenue deficit of the Centre in the first seven months of the current fiscal stood at Rs 70,284 crore. This represents a 10.03 per cent increase over the revenue deficit level of Rs 63,879 crore recorded in the same period last year.
Net revenue receipts during April-October 2005 stood at Rs 1,16,297 crore (Rs 93,568 crore). While corporation tax stood at Rs 38,071 crore (Rs 25,409 crore), personal income tax during April-October 2005 stood at Rs 25,658 crore (Rs 26,874 crore).
While customs collections during the current fiscal continued to be robust, the excise duty collections, however, remained below the expected growth levels. On the customs front, revenue collections stood at Rs 37,204 crore (Rs 30,745 crore). The excise duty collections for the period under review stood at Rs 49,166 crore (Rs 46,243 crore).
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