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Fiscal deficit at 88 pc of target in 9 months
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SME Times News Bureau | 30 Jan, 2016
Country's fiscal deficit has touched 88
percent of the annual target as on end-December 2015, even as tax
revenue crossed the two-thirds mark, as per the latest official
estimates of the central government accounts released on Friday.
As
per the Controller General of Accounts, as opposed to a fiscal deficit
target of Rs.5.55 lakh crore, the actual number has been Rs.4.88 lakh
crore, or 88 percent, of the 2015-16 Budget estimates (BE). The fiscal
deficit represents the total expenditure, minus the total receipts.
The government has targeted a fiscal deficit of 3.9 percent of GDP for the this fiscal.
Tax
revenue during the period in consideration came in at Rs 6.22 lakh
crore, or 67.6 percent of the full year BE of Rs.9.19 lakh crore.
The
total receipts during the period under review has been Rs.8.25 lakh
crore, against the budget amount for the full fiscal year of Rs.12.21
crore.
The CGA data revealed that the total expenditure (plan and
non-plan) during the first nine months of the fiscal stood at Rs.13.13
lakh crore, as against the budgetary target of Rs.17.77 lakh crore.
Furthermore,
the data disclosed that the revenue deficit during the period under
review stood at Rs.3.22 lakh crore, or 81.7 percent of BE for 2015-16.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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