New Delhi: The Centre’s fiscal deficit touched 56.7 per cent of the annual target at the end of December 2024, according to the data released by Controller General of Accounts (CGA). In actual terms, the fiscal deficit — the gap between expenditure and revenue — was Rs 9,14,089 crore during the April-December 2024-25 period. The deficit was 55 per cent of Budget Estimates (BE) of 2023-24 in the year-ago period.
The CGA data showed that the central government’s tax revenue (net) was Rs 18.43 lakh crore, or 71.3 per cent of the BE of 2024-25. It was at 74.2 per cent during the corresponding year of the last financial year.
The total expenditure was at Rs 32.32 lakh crore, or 67 per cent of the BE, according to the revenue-expenditure data of the Union government. In the year-ago period it was at 67.8 per cent of BE.
In the Union Budget, the government projected to bring down the fiscal deficit to 4.9 per cent of gross domestic product (GDP) in the current 2024-25 financial year. The deficit was 5.6 per cent of the GDP in 2023-24.
In absolute terms, the government aims to contain the fiscal deficit at Rs 16,13,312 crore during the current fiscal year. A fiscal deficit is the difference between the total expenditure and revenue of the government. It is an indication of the total borrowing needed by the government.
The Centre’s fiscal deficit touched 56.7 per cent of the annual target at the end of December 2024, according to the data released by Controller General of Accounts (CGA). In actual terms, the fiscal deficit — the gap between expenditure and revenue — was Rs 9,14,089 crore during the April-December 2024-25 period. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
