Breaking: April-July fiscal deficit 21.3% of Rs 15.07 lakh cr FY22 goal

The federal government on Tuesday stated its fiscal deficit stood at Rs 3.2 lakh crore or 21.3 per cent of the complete 12 months’s Price range estimate (Rs 15.07 lakh crore) on the finish of July. The fiscal deficit on the finish of June stood at Rs 2.74 lakh crore or 18.2 per cent of the complete 12 months’s Price range estimate (BE).

The federal government’s complete receipts stood at Rs 6,83,297 crore on the finish of July 2021, which is 34.6 per cent of BE 2021-22. It comprised of Rs 5,29,189 crore tax income, Rs 1,39,960 crore of non-tax income and Rs 14,148 crore of non-debt capital receipts. The non-debt capital receipts consisted of restoration of loans price Rs 5,777 crore and disinvestment proceeds of Rs 8,371 crore.

A press release from the Ministry of Finance stated that round Rs 1,65,064 crore has been transferred to state governments as devolution of share of taxes as much as July 2021.

The entire expenditure incurred by the federal government was at Rs 10,04,440 crore (28.8 per cent of BE 2021-22), out of which Rs 8,76,012 crore was on income account and Rs 1,28,428 crore on capital account.

Out of the whole income expenditure, Rs 2,25,817 crore was on account of curiosity funds and Rs 1,20,069 crore on account of main subsidies.

Earlier this month, the federal government knowledgeable the Parliament that it expects the whole debt as proportion of GDP to extend to 61.7 per cent (provisional) in 2021-22 from 60.5 per cent (provisional) within the earlier fiscal. On the similar time, public debt would rise to 54.2 per cent within the present monetary 12 months from 52 per cent in 2020-21.

Additionally learn: Q1 fiscal deficit narrows to Rs 2.74 lakh cr as tax receipts enhance

Additionally Learn: India’s GDP to develop in double digits in Q1: ICRA

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