Fiscal deficit widens in H1 of FY19

Source: The Hitavada      Date: 27 Oct 2018 10:18:02




THE fiscal deficit of the Central Government has widened in the first half of 2018-19 to 95.3 per cent of the Budget Estimate (BE), mainly on account of slow growth in revenue collections, as per an official data released on Thursday.

The deficit was at 91.3 per cent of BE at September-end of the last financial year. In actual terms, the fiscal deficit or gap between the total expenditure and receipts was Rs 5.94 lakh crore during April-September this fiscal.

The Government has budgeted to cut fiscal deficit to 3.3 per cent of GDP in 2018-19 from 3.53 per cent in the previous financial year. The fiscal deficit target for 2018-19 is Rs 6.24 lakh crore.

As per the data released by the Controller General of Accounts (CGA), the tax collection (net) at September-end was Rs 5.82 lakh crore, or 39.4 per cent, of BE. It was 44.2 per cent of the BE in similar period last fiscal. The total receipts of the Government during April-September 2018 were Rs 7.09 lakh crore, or 39 per cent, of BE, compared to 40.6 per cent in the same period of 2017-18.

The CGA data showed that total expenditure during April-September 2018 was Rs 13.04 lakh crore or 53.4 per cent of BE. The capital expenditure was  Rs 1.62 lakh crore or 54.2 per cent of BE, CGA said.