The fiscal deficit widened from 50.4% reported in the comparable year-earlier period.
Total receipts stood at 18.25 lakh crore rupees, while overall expenditure in April to December was at 28.18 lakh crore rupees. They were 79.9% and 71.4% of this fiscal year’s budget target.
Revenue receipts stood at 17.70 lakh crore rupees, of which tax revenue was 15.56 lakh crore rupees and non-tax revenue was 2.14 lakh crore rupees.
Tax and non-tax revenues were 80.4% and 79.5% of the budgeted estimate, narrower than 95.4% and 106.7% in the year-earlier period.
In May, the government had cut taxes on petrol and diesel to cushion the impact of a spike in global energy prices. Some economists however said windfall gain tax and additional tax revenue owing to GST over and above the budget will likely provide relief to the fiscal situation.
Revenue deficit was at 5.58 lakh crore rupees or 56.3% of the fiscal year’s budget target, data showed.While announcing the federal budget for this fiscal year, Finance Minister Nirmala Sitharaman had said India will aim to narrow the fiscal gap to 6.4% of gross domestic product from 6.7% in the last financial year.
On the expenditure side, New Delhi spent about 3.51 trillion rupees on major subsidies such as food, fertilisers and petroleum. This was 110% of the annual budget aim, wider than 81% of budgeted expenditure in the comparable period last year.