Homeeconomy News

    India's fiscal deficit hits 59% of total budget target in April-May

    India's fiscal deficit hits 59% of total budget target in April-May

    India's fiscal deficit hits 59% of total budget target in April-May
    Profile image

    By CNBCTV18.com  IST (Published)

    Mini

    The government has reported that the fiscal deficit for the period of April-May, 2020 stands at Rs 4.66 lakh crore which this 58.6 percent if the Rs 7.96 lakh crore budget aim.

    The government has reported that the fiscal deficit for the period of April-May, 2020 stands at Rs 4.66 lakh crore which is 58.6 percent of the Rs 7.96 lakh crore total budget aim.

    The data released by the government also shows that the April-May revenue deficit stands at Rs 4.12 lakh crore versus Rs 3.21 lakh crore in the year-ago period.

    In the same period, the government's spending did not change much when compared to the year before period. The reading is at Rs 5.12 lakh crore versus Rs 5.13 lakh crore.

    The worry is that the receipts for the period in question have shrunk one-third as was widely expected because of the coronavirus pandemic. The reading for April-May stands at Rs 45,500 crore versus a receipt of Rs 1.46 lakh crore in the previous year.

    Tax revenues are also a point of concern. The April-May tax revenues stand at Rs 1.26 lakh crore versus Rs 2.14 lakh crore.

    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
    arrow down

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng