The country’s fiscal deficit rose to Rs 9.53 lakh crore by the end of October in the current financial year, which is about 120 percent of the annual budget estimate. According to the official data released on Friday, the deficit has increased mainly due to lower revenue collection. The lockdown imposed to prevent the spread of the corona virus epidemic has adversely affected business activities. This has impacted revenue collection. At the end of September this year, the fiscal deficit was 114.8 per cent of the annual budget estimate.
Realistically, according to the data of the Comptroller and Auditor General (CGA), the fiscal deficit at the end of October 2020 stood at Rs 9,53,154 crore, which is 119.7 per cent of the annual budget estimate. In the first seven months of the last financial year 2019-20, the fiscal deficit was 102.4 percent of the annual target. The fiscal deficit, which explained the difference between revenue and expenditure, went above the annual target in July this year.
The total receipts of the government till October were Rs 7,08,300 crore, which is 31.54 percent of the budget estimate for 2020-21. It has tax revenue of Rs 5,75,697 crore and non-tax revenue of Rs 1,16,206 crore. While Rs 16,397 crore is non-debt capital receipts. In non-debt capital receipts, Rs 10,218 crore is from debt recovery and Rs 6,197 crore from disinvestment. In the last financial year 2019-20, during April-October, the total achievement was 45 percent of the annual target.
