SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 24 Jun, 2019  

Rupee.9.Thmb.jpg April fiscal deficit at 0.75% of GDP

Rupee.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 24 Jun, 2019

Fiscal deficit for the month of April reached Rs 1,57,048 crore or 22 percent of the budgeted estimate for the year 2019-20, Department of Expenditure (DoE) figures showed.

April fiscal deficit is slightly lower than what it was in the same period a year ago and as a percentage to the GDP, the fiscal deficit is at 0.75 per cent.

These are the fiscal situation of the Central government as seen from the accounts for April 2019 of the Controller General of Accounts (CGA). For 2019-20, the fiscal deficit has been set at 3.4 per cent of the GDP in the interim Budget.

Fiscal deficit is Rs 1,57,048 crore -- 22 per cent of budget estimate (BE) (corresponding period for previous year - COPPY 24 per cent). The receipts are sufficient to cover only 38 per cent of expenditure. As a percentage to GDP, fiscal deficit is 0.75 per cent and revenue deficit is 0.61 per cent, the figures of Review of Accounts of April of the CGA stated.

For April, the total expenditure of the government was Rs 2,54,679 crore or 9 per cent of BE (COPPY 9 per cent), comprising revenue expenditure of Rs 2,24,091 crore -- 9 per cent of BE (COPPY 8 per cent) and capital expenditure of Rs 30,588 crore -- 9 per cent of BE (COPPY 16 per cent).

Total receipts were Rs 97,631 crore --5 per cent of the BE (COPPY 4 per cent). Gross tax was Rs 1,21,190 crore -- 5 per cent of the BE (COPPY 5 per cent). The net tax revenue to the Centre was of the order of Rs 71,637 crore -- 4 per cent of BE after deducting devolution to states (Rs 49,544 crore) and collections under National Calamity Contingent Duty (NCCD) to be transferred to National Disaster Relief Fund (NDRF) (Rs 9 crore).

Total receipts include Net Tax Revenue to Centre (Rs 71,637 crore), Non Tax Revenue (Rs 23,293 crore) and other receipts (Rs 2,701 crore).

During the month of May, the plan releases for various schemes to the tune of Rs 2,012.70 crore were made to the states.

A sum of Rs 49,543.62 crore was devolved to states as their share in Central Taxes and Duties. In addition, releases of the order of Rs 3,850.57 crore were made to the states in May, as recommended by the 14th Finance Commission. NDRF allocation was Rs 788.75 crore and Post Devolution Revenue Deficit (PDRD) was Rs 2,850.57 crore.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter