India fiscal deficit: India’s April-February fiscal deficit at Rs 15.01 lk cr, hits 86.5% of FY24 goal

The fiscal deficit in the identical interval a yr in the past stood at Rs 14.53 lakh crore. The monetary yr started April 1, 2023.

Finance Minister Nirmala Sitharaman in the course of the Interim Union Price range announcement stated that the federal government has narrowed its fiscal deficit goal for FY24 by 10 foundation factors to five.8 per cent of gross home product, and goals to carry it down to five.1 per cent within the subsequent monetary yr.

The entire expenditure throughout April-February FY24 was Rs 37.47 lakh crore, or about 83 per cent of the annual purpose, in opposition to Rs 34.94 lakh crore seen a yr earlier.

On the capital expenditure entrance, which is used to construct bodily infrastructure, the federal government incurred an expense of Rs 8.05 lakh crore between April-February, 84.8 per cent of its goal for FY24. This was increased than the Rs 5.90 lakh crore incurred in the identical interval a yr in the past.

The federal government’s internet tax revenues for April-February was Rs 18.5 lakh crore, or 79.6 per cent of the general goal. In April-February of FY23, the determine stood at Rs 17.32 lakh crore.In the meantime, non-tax income figured at Rs 3.6 lakh crore, or 95.9 per cent of the general goal, information confirmed.Complete receipts for the April-February interval had been Rs 22.5 lakh crore, or 81.5 per cent of the general goal.

India’s income hole figured at Rs 7.32 lakh crore for the interval in query, 87 per cent of the FY24 goal.