Centre's fiscal deficit reaches 21.3 percent of annual target at June end

As per the data released by the Controller General of Accounts (CGA) on Tuesday, the central govt’s fiscal deficit stood at Rs 3.21 lakh Cr or 21.3 percent of the budget estimates at the end of July. The deficit figures this fiscal appear much better than the previous financial year, when it soared to 103.1 percent of the estimate, mainly on account of a jump in expenditure to deal with the COVID-19 pandemic.

The fiscal deficit or the gap between expenditure and revenue for 2020-21 was 9.3 percent of the Gross Domestic Product (GDP), better than 9.5 percent projected in the revised estimates in the Budget in February. As per the data, the central government's total receipts stood at Rs 6.83 lakh Cr or 34.6 percent of corresponding BE 2021-22 up to July 2021. The total receipts were 10.4 percent of the BE of 2019-20 in the same period of the last financial year.

Of the total receipts till July 2021, Rs 5,29,189 Cr was tax revenue, Rs 1,39,960 Cr non-tax revenue and Rs 14,148 Cr non-debt capital receipts. Non-debt capital receipts consist of recovery of loans worth Rs 5,777 Cr and disinvestment proceeds of Rs 8,371 Cr. Further, Rs 1,65,064 Cr was transferred to state governments as devolution of share of taxes by the Centre up to July 2021. The government's total expenditure was Rs 10.04 lakh Cr or 28.8 percent of the corresponding BE 2021-22. 

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