The Centre's fiscal deficit at the end of the first seven months of financial year 2024-25 touched 46.5 percent of the full-year target, government data showed on Friday.
In absolute terms, the fiscal deficit—the gap between the government's expenditure and revenue—was at Rs 7,50,824 crore during the April-October period, according to data released by the Controller General of Accounts (CGA).
The deficit stood at 45 percent of the Budget Estimates (BE) in the corresponding period of 2023-24.
In the Union Budget, the government projected to bring down the fiscal deficit to 4.9 percent of gross domestic product (GDP) in the current 2024–25 financial year. The deficit was 5.6 percent of the GDP in 2023–24.
In absolute terms, the government aims to contain the fiscal deficit at Rs 16,13,312 crore during the current fiscal.
The revenue-expenditure data of the Union government for the first seven months of 2024–25 showed that the net tax revenue was about Rs 13 lakh crore, or 50.5 percent of the budget estimate for the current fiscal.
The net tax revenue collection was 55.9 percent at the end of September 2023.
The central government's total expenditure in the seven months through October stood at Rs 24.7 lakh crore, or 51.3 percent of the budget estimate. Expenditure was 53.2 percent of budget estimate in the year-ago period.
Of the total expenditure, Rs 20 lakh crore was in the revenue account and Rs 4.66 lakh crore in the capital account.
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