The government on Tuesday said its fiscal deficit stood at Rs 3.2 lakh crore or 21.3 per cent of the full year's Budget estimate (Rs 15.07 lakh crore) at the end of July. The fiscal deficit at the end of June stood at Rs 2.74 lakh crore or 18.2 per cent of the full year's Budget estimate (BE).
The government’s total receipts stood at Rs 6,83,297 crore at the end of July 2021, which is 34.6 per cent of BE 2021-22. It comprised of Rs 5,29,189 crore tax revenue, Rs 1,39,960 crore of non-tax revenue and Rs 14,148 crore of non-debt capital receipts. The non-debt capital receipts consisted of recovery of loans worth Rs 5,777 crore and disinvestment proceeds of Rs 8,371 crore.
A statement from the Ministry of Finance said that around Rs 1,65,064 crore has been transferred to state governments as devolution of share of taxes up to July 2021.
The total expenditure incurred by the government was at Rs 10,04,440 crore (28.8 per cent of BE 2021-22), out of which Rs 8,76,012 crore was on revenue account and Rs 1,28,428 crore on capital account.
Out of the total revenue expenditure, Rs 2,25,817 crore was on account of interest payments and Rs 1,20,069 crore on account of major subsidies.
Earlier this month, the government informed the Parliament that it expects the total debt as percentage of GDP to increase to 61.7 per cent (provisional) in 2021-22 from 60.5 per cent (provisional) in the previous fiscal. At the same time, public debt would rise to 54.2 per cent in the current financial year from 52 per cent in 2020-21.
Also read: Q1 fiscal deficit narrows to Rs 2.74 lakh cr as tax receipts increase