India’s April-November fiscal deficit hits Rs 8.47 lakh crore of FY25

India’s fiscal deficit for the first eight months of this fiscal year from April to November stood at Rs 8.47 lakh crore or 52.5 percent of annual estimates, according to the data released by the Controller General of Accounts (CGA) on Tuesday. Total receipts stood at 18.94 lakh crore rupees, while overall expenditure in April to November was at 27.41 lakh crore rupees. These figures were 59.1 percent and 56.9 percent of this fiscal year’s budget target. Tax revenue was 14.43 lakh crore rupees, and non-tax revenue was 4.27 lakh crore rupees.
The central government’s fiscal deficit target is 4.9 percent of the gross domestic product for 2024-25, as announced by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25 against 5.6 percent in 2023-24, which was lower than the revised estimates of 5.8 percent.
Government capex (capital expenditure) stood at Rs 5.13 trillion during the period, or 46.2% of the annual estimate for 2024-25, from Rs5.86 trillion reported during the year-ago period. The data has factored in the slowdown in the government's capex during the first quarter due to the elections. During the April-November period, non-tax revenue stood at Rs 4.27 trillion or 78.3% of the annual budget estimates, against Rs2.84 trillion in the corresponding period of the previous fiscal.

( Business Correspondent)