Fiscal deficit Rs 12.34 lakh crore

Fiscal deficit Rs 12.34 lakh crore

New Delhi: In the current financial year 2021-21, the fiscal deficit of the central government reached Rs 12.34 lakh crore by the end of January. This is about 66.8 percent of the revised budget estimate. In the last financial year 2019-20, by the end of January, the fiscal deficit had reached 128.5 per cent of the revised estimates. This data was released by the Controller General of Accounts (CGA). According to the data released by the CGA, by the end of the current financial year 31 March 2021, the fiscal deficit can reach 9.5 per cent of GDP at about Rs 18.48 lakh crore. According to the CGA, the budget deficit in the current financial year till the end of January was Rs 12,34,004 crore.

Last year, a lockdown was imposed across the country to prevent corona virus infection. Due to this, business activities were affected and its effect was also shown on revenue. The yearly target set for the current fiscal year, the difference between expenditure and revenue, or for budget deficit, was exceeded only in July 2020 last year. The government received Rs 12.83 lakh crore by January 2021, which is about 80 percent of the revised estimate. It has a tax revenue of 11.01 lakh crore.

Revised Estimate had 82% tax revenue collection in 2020-21 as compared to 66.3% Tax Revised Collection of Revised Estimate in the same period in the previous financial year 2019-20. Talking about non-tax revenue, it stood at 67 per cent of the revised estimate, compared to 73 per cent in the same period last fiscal. According to CGA data, in the current financial year till January 2021, the total expenditure was 25.17 lakh crore, which is 73 percent of the revised estimate. This figure was 84.1 percent in the last financial year.

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