India’s fiscal deficit at Rs 5.47 lakh crore at end-October: CGA

The Controller General of Accounts (CGA) in its latest data has said that the Union government's fiscal deficit works out to be Rs 5.47 lakh crore or 36.3% of the budget estimates at the end of October 2021 on the back of improvement in revenue collection. For the current financial year, the government expects the deficit at 6.8% of GDP or Rs 15.06 lakh crore.

The deficit figures in the current fiscal appear better than the previous financial year when the gap between expenditure and revenue had soared to 119.7% of the last year's Budget Estimates (BE) mainly on account of a jump in expenditure to deal with the COVID-19 pandemic.

Besides, it said the government of India received about Rs 12.79 lakh crore (64.8 per cent of corresponding BE 2021-22 of total receipts) up to October, 2021 comprising Rs 10.53 lakh crore tax revenue (net to centre), Rs 2.06 lakh crore of non-tax revenue and Rs 19,722 crore of non-debt capital receipts.