India’s April-August Fiscal Deficit Reaches 76% Of FY17 Target

India’s fiscal deficit for the April-August period of the current financial year stood at Rs 4.08 lakh crore, or 76.4 percent of the budget estimate for 2016-17, government data showed on Friday. The budget deficit estimate for 2016-17 stood at Rs 5.34 lakh crore, 3.5 percent of the gross domestic product.

The fiscal deficit was 66.5 percent of the full-year target during the same period a year ago.

Revenue from net tax receipts during the period stood at Rs 2.8 lakh crore against budgeted estimate of Rs 10.5 lakh crore. Non-tax receipts generated at the end of August was Rs 1.1 lakh crore, which was 32.5 percent of the budgeted estimate of Rs 3.2 lakh crore, data showed.

Total receipts (from revenue and non-debt capital) of the government during the four months was Rs 3.94 lakh crore or 27.2 percent of the budgeted estimates for the current year.

Total expenditure of the government during April-August was nearly Rs 8 lakh crore, or 40.5 percent of the full-year estimates. Of this, non-planned expenditure constituted Rs 5.7 lakh crore.

Revenue deficit stood at Rs 3.25 lakh crore, or 91.8 percent of the budgeted estimate.