New Delhi, Nov. 29 (PTI): The Centre’s fiscal deficit mounted to Rs 85,978 crore during the first seven months of this year due to soaring expenditure, even as the governmental revenues improved considerably.
The growth in fiscal deficit, which constituted 56 per cent of the budgeted level of Rs 1,53,637 crore for the whole year, was despite marginal decline in the interest payments outgo, the Controller General of Accounts Data said.
Total receipts rose to Rs 1,67,792 crore during April-October due to good performance in net tax collections, non-tax revenue and recovery of loans.
The receipts till October constituted 58.8 per cent of the budgeted Rs 2,85,158 crore for 2003-04.
The government’s total expenditure bloated to Rs 2,53,770 crore, which was 57.8 per cent of the estimated figure of Rs 4,38,795 crore for this year, due to rise in both plan and the non-plan expenditure.
Revenue deficit worsened to Rs 70,856 crore during the first seven months of this year and the budgeted level was Rs 1,12,292 crore for the whole of this year. Reflecting the containment in interest payment outgo, the centre's liability stood at Rs 60,355 crore.