Federal government expects the deficit at 6.8 percent of GDP or Rs 15,06,812 crore.New Delhi: The central government's financial deficit at the end of November exercised to be 46.2 per cent of the annual budget target for the fiscal year 2021-22 due to an enhancement in the profits collection, according to official information released on Friday.The deficit figures in the current financial year till November appear much better than the previous financial year when it had skyrocketed to 135.1 percent of the price quotes generally on account of a jump in expenditure to handle the COVID-19 pandemic.In actual terms, the deficit stood at Rs 6,95,614 crore at the end of November 2021 against the yearly price quote of Rs 15.06 lakh crore, according to data launched by the Controller General of Accounts (CGA).
For the current financial year, the federal government anticipates the deficit at 6.8 per cent of GDP or Rs 15,06,812 crore.
According to the data, the total receipts of the government at the end of November stood at Rs 13.78 lakh crore or 69.8 per cent of the budget estimates (BE).
The collection was just 37 percent of the BE of 2020-21 in the matching period last fiscal.The tax (net) revenue so far stood at 73.5 per cent of the BE of 2021-22.
It was only 42.1 per cent of BE 2020-21 in the matching duration of last fiscal.
The CGA information even more stated the main government's total expense at the end of November stood at Rs 20.74 lakh crore or 59.6 per cent of this year's BE.The fiscal deficit for 2020-21 stood at 9.3 per cent of the gross domestic product (GDP), better than 9.5 percent forecasted in the modified price quotes in the Budget in February.