India's April-November fiscal deficit at ₹9.06 lakh crore, exceeds 50% of full year budget estimates
₹9.06 lakh crore or 50.7 per cent of the full-year budget estimate, according to data released by the Controller General of Accounts (CGA) on Friday. In absolute terms, the fiscal deficit -- the difference between expenditure and revenue -- was at ₹9,06,584 crore during the April-October period of 2023-24.
In the corresponding period last year, the deficit was at 58.9 per cent of the budget estimates of 2022-23. For 2023-24, the fiscal deficit of the government is estimated to be at ₹17.86 lakh crore or 5.9 per cent of the GDP.
The Government of India received ₹17.4 lakh crore (64.3 per cent of corresponding BE 2023-24 of total receipts) up to November 2023 comprising ₹14.35 lakh crore tax revenue (net), ₹2.84 lakh crore of non-tax revenue and ₹25,463 crore of non-debt capital receipts. Non-debt capital receipts consist of recovery of loans and miscellaneous capital receipts.
As per the CGA data, total expenditure incurred by the central government was at ₹26.52 lakh crore (58.9 per cent of corresponding BE 2023-24) during April-November 2023. Out of the total expenditure, ₹20.66 lakh crore was on revenue account and ₹5.85 lakh crore was on capital account.
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