Fiscal Deficit Surpasses Full-Year Target

IAS Prelims 2023

According to the official data released by the Controller General of Accounts (CGA), the fiscal deficit of union government for April-February 2017 came in at ₹6.05 lakh crore, which is 113.4 per cent of the full year target of ₹5.34 lakh crore.

For the current fiscal, the Centre had marked the fiscal deficit target at ₹5.34 lakh crore, lower than the revised estimate of ₹5.35 lakh crore for 2015-16.

Meanwhile, revenue deficit for April-February 2017 came in at ₹4.44 lakh crore, reflecting 142.8 per cent of the targeted ₹3,10,998 crore for 2015-16.

At the same stage last fiscal, the Centre’s revenue deficit was 114.4 per cent of the Budget estimate.

Net tax revenue for April-February 2017 stood at ₹8.85 lakh crore, about 81.3 per cent of the estimates.