India’s Fiscal deficit crosses INR 8 lakh crore in 7 months

NEW DELHI — India’s fiscal deficit for the first seven months of the current financial year stands at INR 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 INR 13.02 lakh crore, or 55.9 per cent of the annual estimate, up from INR 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 INR 4.82 lakh crore.

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

In the first seven months of the current financial year, government capital expenditure was INR 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 INR 4.09 lakh crore.

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