The government's fiscal deficit as of end-December touched 59.8% of the full-year Budget Estimate on subdued growth in revenue collections, according to finance ministry data released on Tuesday.
In actual terms, the fiscal deficit -- which is the difference between expenditure and revenue -- was Rs 9,92,976 crore during the April-December period of 2022-23. In the corresponding period last year, the deficit was 50.4% of the Budget Estimates of 2021-22.
The government has budgeted fiscal deficit at Rs 16.61 lakh crore or 6.4 per cent of the GDP in the current financial year ending Mar 2023. The deficit is funded by market borrowing.
As per the Controller General of Accounts data, the net tax revenue at Rs 15.55 lakh crore was 80.4% of Budget Estimates 2022-23. During the corresponding period of 2021-22, the net tax revenue was 95.4% of that year's Budget Estimates.
Non-tax revenue was at Rs 2.14 lakh crore or 79.5% of Budget Estimates. In the last fiscal, the collection by December was 106.7% of Budget Estimates.
The central government's total expenditure during April-December works out to be 71.4% of Budget Estimates of 2022-23, lower than 72.4% of Budget Estimates in the year-ago period.
Capital expenditure stood at Rs 4.89 lakh crore or 65.4% of Budget Estimates at end-December. The capex was 70.7% of Budget Estimates during the corresponding period last fiscal.
As per the CGA data, the central government's total receipts, including non-tax revenue, stood at Rs 18.25 lakh crore or 79.9% of the current year's Budget Estimates. In the year-ago period, the total receipts had touched 89.1% of Budget Estimates 2021-22.
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