At 4.51 lakh crore in June quarter, India's fiscal deficit comes in at 25% of FY24 target

livemint.com:

₹4.51 lakh crore in the April-June quarter of fiscal 2023-24, which comes in at 25.3 per cent of the annual target of ₹17.87 lakh crore, according to data released by the Controller General of Accounts on July 31. The fiscal deficit data stood at ₹2.10 lakh crore in April-May 2023.

The April-June net tax receipts stood at ₹4.3 lakh crore, or 18.6 per cent of the annual estimate, lower than ₹5.06 lakh crore in the corresponding period last year, according to the data. The total expenditure during the April-June period came in at ₹10.51 lakh crore, which is 23.3 per cent of the annual goal, lower than the ₹9,48,000 crore in the same period last year.

In the first quarter of the financial year, the government's capital expenditure or spending on building infrastructure came in at ₹2,78,000 crore, which is 28 per cent of the annual target, higher than ₹1,75,000 crore in the corresponding period last year. The aims to narrow its fiscal deficit to 5.9 per cent of gross domestic product (GDP) by the end of the current fiscal year, against 6.4 per cent last year.