New Delhi (JnN). India’s fiscal deficit increased to Rs 5.05 lakh crore for the period from April to July. This was 92.4 percent of the budget estimate of fiscal year 2017 which was 5.45 lakh crore rupees. This figure was released by the Controller General of Accounts on Thursday.
According to the data, during the April-July period, the fiscal deficit witnessed an increase of 28.3 percent compared to the same period last year. In the same period last year, the figure was 3.93 lakh crore rupees. During the April-June period, the total expenditure of the government increased by 23.1 percent to Rs 8.08 lakh crore. This figure was Rs 6.59 lakh crore in the same period last year. In the meantime, the government has received 15.3% more than 3.03 lakh crore rupees.
At the same time, the revenue deficit during the period of April-July was at Rs 4.22 lakh crore, which was Rs 3.29 lakh crore in the same period last year. During this period, the revenue expenditure was Rs 7.13 lakh crore. This was Rs 5.85 lakh crore in the same period last year.
During the fiscal year 2017-18, the government has set a target to bring fiscal deficit to 3.2 per cent of GDP. Last fiscal, the target of keeping the fiscal deficit at 3.5 percent of GDP was achieved.