Fiscal deficit touches 21.3% of target

The Centre’s fiscal deficit stood at ₹3.21 lakh crore or 21.3% of the budget estimates at the end of July, as per data released by the Controller General of Accounts on Tuesday.The deficit figure thi

The Centre’s fiscal deficit stood at ₹3.21 lakh crore or 21.3% of the budget estimates at the end of July, as per data released by the Controller General of Accounts on Tuesday. The deficit figure this fiscal appears better than it did a year earlier, when it had soared to 103.1% of the estimate, mainly on account of a jump in expenditure to help deal with the COVID-19 pandemic. The Centre’s total receipts stood at ₹6.83 lakh crore or 34.6% of budget estimate (BE) up to July. Total receipts were 10.4% of BE a year earlier. Expenditure was ₹10.04 lakh crore or 28.8% of BE. It was 34.7% of BE a year earlier.