Government's financial deficit stood at 36.3 percent of the annual spending plan target for 2021-22Government's financial deficit stood at 36.3 per cent of the yearly budget plan target for the present financial, throughout the April-October 2021 duration, according to information released by Controller General of Accounts.This was mainly due to jump in income collections, official sources said.
In actual terms, the deficit was Rs 5,47,026 crore at the end of October, 2021 against the yearly estimate of Rs 15.06 lakh crore, while total expenditure was Rs 18.27 lakh crore, the data exposed further.Fiscal deficit or the space in between expense and revenue was 119.7 per cent of the budget estimate of 2020-21 during the matching period last year.The financial deficit for 2020-21 was 9.3 per cent of the Gdp (GDP), much better than 9.5 per cent predicted in the modified estimates in the union budget in February.