NEW DELHI: India’s fiscal deficit till January-end worked out at 58.9% of the annual budget target for 2021-22, according to the data released by the government on Monday. As per the Controller General of Accounts (CGA) data, the fiscal deficit was 66.8% of Revised Estimate (RE) of 2020-21 during the corresponding period of the last fiscal. The deficit was Rs 9,37,868 crore at end-January 2022 against an upwardly revised annual estimate of Rs 15.91 lakh crore.
The total receipts of the government in end-January were Rs 18.71 lakh crore or 85.9% of the Revised Estimates (RE) for 2021-22. The collection is about 80% of the RE of 2020-21 in the same period last year. The net tax revenues are Rs 15.47 lakh crore during April-January 2021-22. It is 87.7% of the RE of 2021-22. In the last fiscal, it was 82% of RE 2020-21.
The government’s total expenditure at the end-January stood at Rs 28.09 lakh crore or 74.5% of this year’s RE. Last year, it was 73% of RE for the same period. The CGA data highlights that the fiscal deficit of the government for 2022-23 is estimated to be Rs 16,61,196 crore.