The fiscal deficit at the centre in April-October was 36.3 percent of the budget’s predictions for FY22

The Centre’s fiscal deficit for April to October was Rs 20,200 crore, compared to Rs 39,200 crore last year.

According to CNBC-TV18, the Centre’s fiscal deficit from April to October, or the first seven months of the year, was Rs 20,200 crore, down from Rs 39,200 crore last year.

According to data supplied by the Controller General of Accounts (CGA), it is also 36.3 percent less than the Budget forecasts for FY22. For the fiscal year, the central government set a target of Rs 15.07 lakh crore in fiscal deficit.

The CGA estimated the union government’s fiscal deficit to reach Rs 5.26 lakh crore, or 35% of the budget forecasts at the end of September 2021, a month ago.

The current fiscal year’s deficit figures appear to be significantly better than the previous fiscal year’s, when they surged due to an increase in COVID-19-related spending.

Meanwhile, revenue receipts accounted for 70.5 percent of this year’s Budget predictions, compared to 34.2 percent the previous year. At the same time, overall spending reached 524 percent of the Budget target, compared to 54.6 percent the previous year.

The current fiscal year’s capital spending is 45.7 percent of Budget forecasts, compared to 47.9 percent previous year. India’s net tax collection reached 68 percent of the FY 22 Budget target, up from 35.2 percent the previous year.