New Delhi: India’s fiscal deficit during April-June 2024 narrowed to 8.1 per cent of the full budget target for FY25. The fiscal deficit during April-June 2024 stood at Rs 1.36 lakh crore. Data released by the Controller General of Accounts (CGA) showed this.
The fiscal deficit is the gap between expenditure and revenue. The fiscal deficit had stood at 25.3 per cent in the corresponding period last year.
As per data, the net tax receipts in April-June 2024 stood at Rs 5.5 lakh crore, or 21 per cent of the annual target. It was at Rs 4.34 lakh crore in the year-ago period. Total government expenditure during the period was Rs 9.7 lakh crore, or about 20.4 per cent of the annual goal, lower than the Rs 10.51 lakh crore in the same period last year.
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For the three months, the government’s capital expenditure or spending on building physical infrastructure was Rs 1.81 lakh crore, or 16.3 per cent of the annual target, against Rs 2.78 lakh crore in the same period a year earlier.
In the latest Budget 2024-25 presented on July 23, the central government lowered its fiscal deficit target to 4.9% of GDP for the financial year, as compared with 5.1% in the interim budget in February. The country’s budget gap stood at 5.6 per cent of GDP last fiscal year.
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