India’s fiscal deficit crosses Rs 8 lakh crore in 7 months

India’s fiscal deficit for the first seven months of the current financial year stands at Rs 8.04 lakh crore, which is 45 per cent of the estimate for the full year, according to government data released on Thursday.

The net tax revenues for April-October stood at Rs 13.02 lakh crore, or 55.9 per cent of the annual estimate, up from Rs 11.71 lakh crore in the same period last year.

Corporate tax collections have risen by 17.6 per cent during the 7 months to Rs 4.82 lakh crore.

Total Government expenditure during April-October was Rs 23.94 lakh crore, or 53.2 per cent of the budget target, compared with Rs 21.44 lakh crore in the same period last year.

In the first seven months of the current financial year, government capital expenditure was Rs 5.47 lakh crore, or 54.7 per cent of the annual target while corresponding figure for the same period of the previous year was Rs 4.09 lakh crore.