India's fiscal deficit in April-Jan touches 74.5 per cent of full year target for FY25
Total receipts stood at INR 24 lakh crore, while overall expenditure from April to January was INR 35.70 lakh crore. They were 76.3 per cent and 75.7 per cent of this fiscal year's revised budget targets.
- NEW DELHI — India's
fiscal deficit for the first 10 months of the current financial year (April-January)
stood at INR 11.70 lakh crore, or 74.5 per cent of annual estimates, according
to data released by the Controller General of Accounts (CGA) on Friday.
-
- In absolute terms, the fiscal deficit for the financial year
ending March 2025 is estimated at INR 15.69 lakh crore.
-
- Total receipts stood at INR 24 lakh crore, while overall
expenditure from April to January was INR 35.70 lakh crore. They were 76.3 per
cent and 75.7 per cent of this fiscal year's revised budget targets.
-
- The overall deficit is in line with the targeted figure of
4.8 per cent of GDP fixed by Finance Minister Nirmala Sitharaman as part of the
fiscal consolidation path, said ratings agency ICRA chief economist Aditi
Nayar.
-
- The government spending for the ten months stood at INR 35.7
lakh crore, reaching 75.7 per cent of the annual target. Capital expenditure,
allocated for infrastructure development, amounted to INR 7.57 lakh crore, or
74.4 per cent of the yearly goal.
-
- Revenue receipts stood at 23.71 lakh crore rupees, of which
tax revenue was 19.04 lakh crore rupees and non-tax revenue was 4.68 lakh crore
rupees.
-
- Tax and non-tax revenues were 74.4 per cent and 88.1 per
cent of the revised budgeted estimates.
-
- Finance Minister Sitharaman has announced a budget deficit
target on a declining path to 4.4 per cent of GDP in 2025-26 from 4.8 per cent
of GDP in 2024-25.
-
- In the FY'25 Budget, the government projected gross tax
revenue at INR 38.40 lakh crore, marking an 11.72 per cent increase from FY'24.
This includes INR 22.07 lakh crore from direct taxes (personal income and
corporate tax) and INR 16.33 lakh crore from indirect taxes (customs, excise,
GST).
-
- The net market borrowing for the budget 2025-26 has been
fixed at INR 11.54 lakh crore while the rest of the funds will come from small
savings schemes, the Finance Minister said.
-
- The government's gross borrowing target for FY26 was revised
upwards 5.7 per cent to INR 14.82 lakh crore. Earlier, it was set at INR 14.01
lakh crore for FY25.
-
- "In the July Budget, I committed to staying the course
for Fiscal consolidation, we will endeavour to keep the fiscal deficit each
year such that the Central government debt remains on a declining path as a
percentage of the GDP," FM Sitharaman said.
