The fiscal deficit in the first four months of current financial year stood at ₹3.85 lakh crore, or 69.3 per cent of Budget estimates for 2015-16, as government stepped up its plan expenditure.
The fiscal deficit during April-July 2014-15 was 61.2 per cent of the Budget estimates.
The fiscal deficit – gap between expenditure and revenue – for the entire current fiscal has been pegged at ₹5.55 lakh crore.
Net tax receipts in April-July period of 2015-16 stood at ₹1.54 lakh crore.
Total expenditure of the government during April-July was nearly ₹6 lakh crore, or 33.8 per cent of the entire year estimates.
Of the total expenditure, plan spending was over ₹1.57 lakh crore and non-plan was over ₹4.43 lakh crore.
The revenue deficit during the four months was over ₹3.05 lakh crore, or 77.6 per cent of the estimates, Controller General of Accounts (CGA) data showed.
For the 2015-16 fiscal, the government aims to restrict fiscal deficit to ₹5.55 lakh crore, or 3.9 per cent of the GDP.
The fiscal deficit was ₹5.01 lakh crore, or 4 per cent of GDP, in 2014-15, down from 4.1 per cent pegged in the revised estimate.
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