SME Times News Bureau | 29 Feb, 2020
India's budgetary fiscal deficit for the April-January period was Rs 9.85 lakh crore, or 128.5 per cent of the revised target.
The government has revised its fiscal deficit target to be at Rs 7.66 lakh crore for 2019-20.
As
per Controller General of Accounts (CGA) data released on Friday, the
fiscal deficit during the corresponding months of the previous fiscal
was 121.5 per cent of that year's target.
The Central
government's total expenditure stood at Rs 22.68 lakh crore (84.1 per
cent) while total receipts were Rs 12.82 lakh crore (66.4 per cent).
ICRA's
Principal Economist Aditi Nayar said: "Typically, the Government of
India's receipts tend to sharply exceed its expenditures in the last few
months of each fiscal, which aids in reining in the full year fiscal
deficit. While we estimate the GoI's gross tax receipts to be
considerably lower than the FY2020 RE, lower tax devolution to the
states would bolster the Central government's net tax revenues."
"There
remains considerable uncertainty regarding the magnitude and the timing
of the actual payments that would be made by the telecom and
non-telecom license holders to the Government of India to settle the AGR
dues. Therefore, it remains unclear to what extent the collections of
the GoI from Other Communication Services will differ from the FY2020
RE."