November–end fiscal deficit hits 99 per cent of target

New Delhi, December 31:India’s fiscal deficit touched 98.9 percent of the budget estimates for 2014–15 by the end of November, crossing Rs.5.25 lakh crore ($83.08 billion), data released by the Controller General of Accounts showed on Wednesday. The deficit was 93.9 percent during the corresponding period in 2013–14. The total revenue receipts during the period were Rs.5.49 lakh crore or 43.4 percent of the budget estimate, the data revealed. Total expenditure of the government during the April–November period was over Rs.10.74 lakh crore or 59.8 percent of the estimates for 2014–15. Of the total expenditure, plan expenditure was to the tune of Rs.2.93 lakh crore and non–plan expenditure Rs.7.80 lakh crore. Net tax revenue receipts between April–November of 2014–15 stood at over Rs.4.13 lakh crore ($65.35 billion), or 42.3 percent of the budget estimate. The non–tax revenue receipts was Rs.1.28 lakh crore or 60.4 percent of the budget estimate. Revenue deficit during the period was at Rs.4.11 lakh crore, or more than double the estimate at 108.6 percent.  (IANS)