India’s fiscal deficit or the difference between the government’s revenue and expenditure widen up to Rs 7.70 lakh crore at the end of January 2019, as per the data released by the Controller General of Accounts. The gap in January expanded as compared to the previous month of December 2018.
According to data, the fiscal deficit stood at 121.5 per cent of the budgeted estimate of Rs 6.24 lakh crore for 2018-19. The deficit in December 2018 stood at 112.4 per cent in December 2018 whereas 113.7 per cent in January 2018.
In the interim budget presented on February 1, 2019, the government revised the fiscal deficit for 2018-19 from 3.3 per cent to 3.4 per cent of the GDP. According to the report, the total expenditure for the April-January 2019 period increased to Rs 20 lakh crores or 81.5 per cent of the full-year target.
The revenue deficit during April-January 2019 stood at 143.4 per cent of the target as compared to 109.2 per cent in the same period last year. The Tax revenue during the same period stood at Rs 10.19 lakh crore or 68.7 per cent of the full-year target.
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