The fiscal deficit was tad wider than 45% reported in the comparable year-earlier period.
Total receipts stood at 17.23 lakh crore rupees, while overall expenditure in April to October was at 24.74 lakh crore rupees. They were 53.7% and 51.3% of this fiscal year’s budget target.
Total receipts in the year-earlier period was at 58.6% of estimate, while expenditure narrowed from 53.2% a year earlier.
Revenue receipts stood at 17.04 lakh crore rupees, of which tax revenue was 13.05 lakh crore rupees and non-tax revenue was 3.99 lakh crore rupees.
Tax and non-tax revenues were 50.5% and 73.2% of the budgeted estimate. Tax revenue and non-tax revenue narrowed from 55.9% and 88.1% of budget estimate in the last fiscal year.The Reserve Bank of India transferred Rs 2.11 lakh crore as surplus to the central government. The dividend payout is more than double the amount budgeted from the central bank and state-run lenders.Revenue deficit was at 3.03 lakh crore rupees or 52.2% of the fiscal year’s budget target, data showed.
While announcing the federal budget for this fiscal year that started April 1, Finance Minister Nirmala Sitharaman revised the fiscal gap aim down to 4.9%, well below the 5.1% budget gap pegged in the Interim budget. Sitharaman also pegged the fiscal deficit target at 5.1% for the next fiscal year.
In the budget, The government stuck to its fiscal consolidation roadmap even as coalition parties demanded more funds from the Modi government and the middle class urged for tax relief measures.
On the expenditure side, New Delhi spent about 2.49 lakh crore rupees on major subsidies such as food, fertilisers and petroleum. This was 65% of the revised annual aim, wider than 62% of budgeted expenditure in the comparable period last year.