Fiscal deficit in April touches 22% of budgeted estimate for year 2019-20: DoE

The Department of Expenditure (DoE) in its latest data has showed that fiscal deficit, or the gap between the government's expenditure and revenue, for the month of April was at Rs 1,57,048 crore which is 22% of the budgeted estimate for the year 2019-20, slightly lower than 24% in the same period a year ago. The figures of Review of Accounts of April of the Controller General of Accounts (CGA) stated that as a percentage to the Gross Domestic Product (GDP), the fiscal deficit is at 0.75% and revenue deficit is 0.61%. For 2019-20, the fiscal deficit has been set at 3.4% of the GDP in the interim Budget.

For the month of April, the total expenditure of the government was Rs 2,54,679 crore or 9% of budget estimate, comprising revenue expenditure of Rs 2,24,091 crore - 9% of budget estimate and capital expenditure of Rs 30,588 crore - 9% of budget estimate. Total receipts were Rs 97,631 crore - 5% of the budget estimate. Gross tax was Rs 1,21,190 crore - 5% of the budget estimate. The net tax revenue to the Centre was of the order of Rs 71,637 crore – 4% 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.