India's April-May fiscal deficit at Rs 2.10 lakh crore, narrows on-year to 11.8% of FY24 aim
fiscal deficit for the first two months of this fiscal year through May stood at 2.10 lakh crore rupees, or 11.8% of annual estimates, government data showed today. The fiscal deficit narrowed from 12.3% reported in the comparable year-earlier period. Total receipts stood at 4.16 lakh crore rupees, while overall expenditure in April to May was at 6.26 lakh crore rupees.
They were 15.3% and 13.9% of this fiscal year's budget target. Revenue receipts stood at 4.13 lakh crore rupees, of which tax revenue was 2.78 lakh crore rupees and non-tax revenue was 1.35 lakh crore rupees. Tax and non-tax revenues were 11.9% and 44.6% of the budgeted estimate.
While tax revenue narrowed from 15.9% in the year-earlier period, non-tax revenue sharply widened from 18.3%. Revenue deficit was at 45,489 crore rupees or 5.2% of the fiscal year's budget target, data showed. While announcing the federal budget for this fiscal year, Finance Minister Nirmala Sitharaman said India aims to narrow the fiscal gap to 5.9% of gross domestic product from 6.4% in the last financial year.
Read more on economictimes.indiatimes.com
