India’s April-September Fiscal Deficit At 37.3% Of Full-Year Target

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The central government’s fiscal deficit for the April to September 2022 period is at 37.3% of its target for the full fiscal.

The fiscal deficit for the April-September period in actual terms stood at Rs 6.19 lakh crore out of the total budget estimate of Rs 16.6 lakh crore, or 6.4% of GDP, for FY23, according to data from the Controller General of Accounts released on Monday.

The government’s total expenditure was at Rs 18,23,597 crore, or 46.2% of the total target of Rs 39.44 lakh crore.

Over the same period last year, the government had spent 46.7% of its budgeted target, indicating a similar trend in expenditure.

Key Highlights

Capital expenditure was at 46% compared to 41% a year earlier.
Revenue expenditure at 46% vs 48% in the corresponding period last year.
Revenue receipts stood at Rs 11,69,561 crore, or 53.1% of the budgeted figures, compared to 60.4% last year.
Net tax revenue stood at 52.3% against 59.6% last year.
Non-tax revenue stood at 58.4% of the budget estimate compared to 66% in the previous financial year.