Fiscal deficit touches 21.3% of target

Current GK ( Master) Budgeting and Fiscal policy

The Centre’s fiscal deficit stood at ?3.21 lakh crore or 21.3% of the budget estimates at the end of July, as per data released by the Controller General of Accounts on Tuesday.
The deficit figure this fiscal appears better than it did a year earlier, when it had soared to 103.1% of the estimate, mainly on account of a jump in expenditure to help deal with the COVID-19 pandemic.
The Centre’s total receipts stood at ?6.83 lakh crore or 34.6% of budget estimate (BE) up to July. Total receipts were 10.4% of BE a year earlier. Expenditure was ?10.04 lakh crore or 28.8% of BE. It was 34.7% of BE a year earlier.