Fiscal deficit hits 96% of FY18 target

India’s fiscal deficit at the end of October hit 96.1% of the budget estimate for 2017- 18, mainly due to lower revenue realisation and rise in expenditure.

In absolute terms, the fiscal deficitwas ₹5.25 lakh crore during April-October of 2017-18, according to data of the Controller General of Accounts (CGA).

During the same period of 2016-17, the deficit stood at 79.3% of the target. For 2017-18, the government aims to bring down the fiscal deficit to 3.2% of GDP. Last fiscal, it had met the 3.5% target. The CGA data showed that the government’s revenue receipts were at ₹7.29 lakh crore in the seven months of the current fiscal.