Business Daily from THE HINDU group of publications
Wednesday, Aug 01, 2007
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Business Daily from THE HINDU group of publications Wednesday, Aug 01, 2007 ePaper |
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Economy Industry & Economy - Economy Gross fiscal deficit for April-June at Rs 1.12 lakh cr
Our Bureau New Delhi, July 31 The Centre’s gross fiscal deficit for April-June 2007-08 is placed at Rs 1,12,404 crore, a 44.6 per cent jump over the Rs 77,740 crore for the corresponding quarter of the previous fiscal. The large apparent increase is, however, mainly a result of the Centre’s acquisition of the Reserve Bank of India’s (RBI) 59.73 per cent stake in the State Bank of India. This transaction, involving a consideration of Rs 35,531 crore, is reflected as capital expenditure of the Centre, which will be neutralised by realising an equal amount of receipt from the RBI during the course of this fiscal. If the Rs 35,531 crore sum is excluded, the fiscal deficit number for April-June 2007 works out to Rs 76,873 crore, which is actually lower than the Rs 77,740 crore for April-June 2006. Revenue Deficit
A similar improvement has been registered vis-À-vis the revenue deficit (total current receipts from tax and non-tax sources minus current spending), which has fallen from Rs 70,675 crore in April-June 2006 to Rs 68,646 crore in April-June 2007.
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