India's fiscal deficit reaches 66.8% of revised Budget estimate at January end

The Centre's fiscal deficit stood at 66.8 per cent of revised Budget estimates for 2020-21 at the end of January 2021. According to the data released by the Controller General of Accounts (CGA), India's fiscal deficit stood at 128.5 per cent of Budget estimates at the end of January a year ago.

In absolue terms, India's fiscal deficit stood at Rs 12.34 lakh crore. The government has pegged the fiscal deficit for the current year at Rs 18.48 lakh crore, or 9.5 per cent of GDP, on account of the COVID-19 pandemic and the subsequent disruptions.

Total receipts stood at Rs 12.83 lakh crore, which is 80.1 per cent of the revised Budget estimates of Rs 16.01 lakh crore in FY21.

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While tax revenue stood at 11.01 lakh crore against Budget estimates of Rs 13.44 lakh crore, non-tax revenue was at 1.41 lakh crore, 67 per cent of revised estimates of Rs 2.10 lakh crore.

Revenue expenditure stood at Rs 21.55 lakh crore, while capital expenditure was at 3.62 lakh crore as against revised estimates of Rs 4.38 lakh crore for the year. Total expenditure was at 25.17 lakh crore, which is 73 per cent of Rs 34.50 lakh crore target.

Centre's revenue deficit was at 62.6 per cent of revised estimates at Rs 14.56 lakh crore, while primary deficit stood at Rs 7.14 lakh crore.

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