New Delhi: According to data released by the Controller General of Accounts, the fiscal deficit of the country during April- July quarter is at 3.41 trillion rupees ($42.91 billion). This is at 20.5% of annual estimates. Fiscal deficit is the difference between revenue and expenditure.
The fiscal deficit in April-July of the current financial year is 6% higher on a year-on-year basis. The Union government’s finances improved in July and reported a fiscal surplus of Rs 11,040 crore during the month. This is the first time in 28 months that the Union government has posted a fiscal surplus. The last time it did so was in March 2020.
Also Read: Union government aims to increase coal production to 1.23 billion tones
Net tax receipts stood at 6.66 trillion rupees and the e total expenditure was 11.27 trillion rupees.
The trade deficit of the country has touched a record high of $ 31 billion in July. Trade deficit is the difference between imports and exports. India’s exports declined to $ 35 billion in July. Imports stands at $ 66 billion. Cumulatively, India recorded a trade deficit of USD 100 billion during the April-July period.
Post Your Comments