Fiscal deficit touches Rs 5.47 lakh crore at July-end

The government's fiscal deficit touched Rs 5.47 lakh crore in the June quarter, which is 77.8 per cent of the budget estimate for 2019-20.

In absolute terms, the fiscal deficit or gap between expenditure and revenue was Rs 5,47,605 crore at July-end, as per the data released by the Controller General of Accounts (CGA) on Friday.

The fiscal deficit stood at 86.5 per cent of 2018-19 budget estimate in the year-ago period.

The government estimates the fiscal deficit to be at Rs 7.03 lakh crore during 2019-20.

It aims to restrict the deficit at 3.4 per cent of the GDP in the current fiscal, same as the last fiscal.

The CGA data showed that revenue receipts of the government during April-July, 2019-20 remained unchanged at 19.5 per cent of the Budget Estimate (BE) compared to the corresponding period last year.

In absolute terms, revenue receipts stood at Rs 3.82 lakh crore at July-end 2019. During the entire year, the revenue receipts has been pegged at Rs 19.62 lakh crore.