New Delhi: The government's finances have shown improvement in July with fiscal deficit at 86.5 per cent of the Budget Estimate (BE), mainly on account of higher revenue collection, according to official data.
The deficit was at 92.4 per cent of BE at July-end of the last financial year.
In actual terms, the fiscal deficit or gap between the total expenditure and receipts was Rs 5.4 lakh crore in the first four months of 2018-19 financial year. 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 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) in the end of July was Rs 2.92 lakh crore or 19.8 per cent of BE.
The total receipts of the government during April-July 2018 were Rs 3.49 lakh crore or 19.2 per cent of BE. In the similar period of 2017-18, the collection was 19 per cent of BE.
The CGA data showed that total expenditure during April-July 2018 was Rs 8.89 lakh crore or 36.4 per cent of BE. The expenditure was higher as a percentage of BE in the year-ago period. The capital expenditure was Rs 1.11 lakh crore or 37.1 per cent of BE, CGA said.
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