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Raising concerns for the government, which is already battling a slowdown in industrial growth, its finances too have come under strain.
The Centre’s fiscal deficit for the first two months of the financial year 2016-17 stood at 42.9 per cent of the Budget Estimate, as compared to 37.5 per cent in the same period last year. This is according to the data released by the Controller-General of Accounts on Thursday.
In absolute terms, the fiscal deficit in the first two months was ₹2.28-lakh crore. For the entire financial year, the Budget Estimate had pegged fiscal deficit at ₹5.33-lakh crore.
Revenue deficit for the first two months stood at 56.2 per cent of the Budget Estimate, while in the same period last year it stood at 43.8 per cent.
In absolute terms, the revenue deficit for the period amounted to ₹1.99-lakh crore while the Budget Estimate pegged revenue deficit at ₹3.54-lakh crore for the fiscal. Revenue deficit refers to shortfall in total government revenue realisation from the targeted figure.
During the first two months of the fiscal, the Centre spent 15.1 per cent of the budgeted expenditure. The total expenditure in the first two months stood at ₹2.98-lakh crore against the Budget Estimate of ₹19.78-lakh crore for the financial year.
The Centre’s total receipts (revenue and non-debt capital) stood at ₹69,060 crore or 4.8 per cent of the Budget Estimate for the full financial year. Of this, the tax revenue was ₹9,690 crore, or 4.7 per cent of the full-year estimates.
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