According to the latest data released by the Controller General of
Accounts (CGA) on 1 August 2012, India's fiscal deficit in the first
quarter (April-June) of the fiscal year 2012-13 stood at 1.90 lakh crore
rupees which was 37 percent of the entire budget estimate.
The
Union Government in the budget 2012 had pegged the fiscal deficit for
the financial year 2012-13 at 5.13 lakh crore, or 5.1 percent of total
GDP. Fiscal deficit during the corresponding period of fiscal year
2011-12 was 39 percent of the budget estimates amounting 1.63 lakh crore
rupees.
The revenue receipts, however, increased in the first
three months of fiscal year 2012-13. The revenue receipt during the
given period stood at 1.18 lakh crore rupees, which was 12.7 percent of
the budget estimates. Total expenditure of the government stood at 3.12
lakh crore rupees, or 21 percent of the budget estimates.
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