Finance Ministry grappling with fiscal deficit too early in the day
New Delhi, Jan. 9: The estimated primary deficit of Government of India as per budget estimates for 2014-15 was Rs. 104166 crore. Against this the actual primary deficit upto November 2014 has been Rs. 292484, which is 280.8 per cent more than the actual budget estimate.
In terms of fiscal deficit, 98.9 per cent of the budget estimate has already been touched in eight months. Against the estimated deficit of Rs. 531177 crore in the current fiscal, a deficit of Rs. 525134 crore has already been touched by end November. Even in terms of revenue deficit, against the estimated deficit of Rs. 378348 crore, the revenue deficit by November end was Rs. 411074 crore which is 108.6 per cent more.
This has been revealed by the Controller General of Accounts, Ministry of Finance, Government of India. The position and figures vis-a-vis November and December have not been released till now by the Finance Ministry.
The total non-Plan expenditure estimate for the entire 12 month period during 2014-15 was Rs. 1219892 crore.During the first eight months of the current financial year, the actual amount spent (till November end) as non-Plan expenditure is Rs. 780532 crore, which is 64 per cent of the Budget estimate.