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  3. Centre's fiscal deficit in Apr-Jul at 17.2% of full-year target: CGA data

Centre's fiscal deficit in Apr-Jul at 17.2% of full-year target: CGA data

02 Sep 2024 Evaluate

The Controller General of Accounts (CGA) in its latest data has showed that the Centre's fiscal deficit at the end of first four months of FY25 (April-July 2024) touched 17.2 per cent of the full-year target. In absolute terms, the fiscal deficit -- the gap between expenditure and revenue -- was Rs 2,76,945 crore as of July-end. The deficit stood at 33.9 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24. In the Union Budget, the government projected to bring down the fiscal deficit to 4.9 per cent of the gross domestic product (GDP) in the current 2024-25 financial year. The deficit was 5.6 per cent of the GDP in 2023-24. In absolute terms, the government aims to contain the fiscal deficit at Rs 16,13,312 crore during the current fiscal. 

Unveiling the revenue-expenditure data of the Union government for the first four months of 2024-25, CGA said the net tax revenue was Rs 7,15,224 crore or 27.7 per cent of the BE for the current fiscal. The net tax revenue collection was 25 per cent at the July-end 2023. The central government's total expenditure in the four months through July stood at Rs 13,00,351 crore or 27 per cent of BE. The expenditure was 30.7 per cent of the BE in the year-ago period.  

Of the total expenditure, Rs 10,39,091 crore was in the revenue account and Rs 2,61,260 crore was in the capital account. Out of the total revenue expenditure, Rs 3,27,887 crore was towards interest payments and Rs 1,25,639 crore on account of major subsidies. CGA said Rs 3,66,630 crore has been transferred to state governments as devolution of share of taxes by the Centre up to July, which is Rs 57,109 crore higher than the previous year.


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