Fiscal deficit at 78% of estimates in first 4 months

Fiscal deficit at 78% of estimates in first 4 months

The centre’s fiscal deficit in the four months till July 2019 stood at Rs 5.48 lakh crore or 77.8% of the budgeted target for the current fiscal year, government data showed on Friday.

The number is significantly lower than the last year when the number stood at 86.5% of the budgeted estimates

Net tax receipts in the first four months of the fiscal year were Rs 3.39 lakh crore, while total expenditure was Rs 9.47 lakh crore, the data with Controller General of Accounts showed.

The government has set a fiscal deficit target of 3.3% (Rs 7.04 lakh crore) for 2019-20.