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India’s April-June 2024 fiscal deficit hit Rs 50,615 crore

New Delhi: India’s fiscal deficit during April-June 2024 stood at Rs 50,615 crore, or 3 per cent of the full budget target for FY25.  The fiscal deficit is the gap between expenditure and revenue

According to the data released by the Controller General of Accounts, net tax revenues in April-May were Rs 3.19 lakh, or 12 per cent of the budget target. It was  at  Rs 2.78 lakh crore in the corresponding period last year.

During April-May (FY25), the Centre’s capital expenditure fell to Rs 1.44 trillion or 12.9% of the budget estimate, from Rs 1.68 trillion in the same period in FY24. Revenue expenditure rose to Rs 4.8 trillion, or 13.1% of the budget estimate, from Rs 4.58 trillion in the corresponding period in FY24.Total expenditure fell slightly to Rs 6.23 trillion, or 13.1% of the budget estimate, from Rs 6.26 trillion in the corresponding period in FY24.

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Meanwhile, total receipts during the April-May (FY25) period stood at Rs 5.73 trillion, or 18.6% of the budget estimate, of which tax receipts stood at Rs 3.19 trillion, or 12.3% of the budget estimate. Non-tax revenue stood at Rs 2.52 trillion, or 63% of the budget estimate during the period.

The central government had set a fiscal deficit target of 5.1% of the GDP in the interim budget, and the government now intends to bring the fiscal deficit down to 4.5% of the GDP by FY26.

 

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