The total expenditure of the central government has been Rs 11.26 lakh crore or 28.6 percent of the budget estimate. This is roughly equivalent to the same period a year ago.
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The fiscal deficit of the Center has reached 20.5 percent of the annual target by the end of July in the first four months of the current financial year. It was 21.3 percent in the same period a year ago. According to official data released on Wednesday, this figure reflects an improvement in the state of public finances. The difference between expenditure and revenue is called fiscal deficit. It stood at Rs 3,40,831 crore in the April-July period of the current financial year. Fiscal deficit also reflects the debt taken by the government from the market.
where did the income come from
According to the data released by the Controller General of Accounts (CGA), the receipts of the government, including taxes, in the first four months have reached Rs 7.85 lakh crore or 34.4 percent of the budget estimate for 2022-23. It was almost the same i.e. 34.6 percent during the same period a year ago. At the same time, tax revenue stood at Rs 6.66 lakh crore or 34.4 percent of the budget estimate for the current financial year. Last year too, the government had managed to get 34.2 per cent of its annual estimate during April-July.
how much did it cost
According to the data, the total expenditure of the central government has been Rs 11.26 lakh crore or 28.6 percent of the budget estimate. This is almost equal to the same period a year ago. Further, capital expenditure has been 27.8 per cent of the budget target for the full year, as against 23.2 per cent in the corresponding period of last fiscal. The government’s fiscal deficit estimate for the fiscal year 2022-23 is Rs 16.61 lakh or 6.4 per cent of the gross domestic product (GDP).