• TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
Monday, July 7, 2025
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

Fiscal deficit touches 135.1% of FY21 target at November-end

Press Trust of india by Press Trust of india
January 1, 2021
in BUSINESS
A A
0
Fiscal deficit touches 135.1% of FY21 target at November-end
FacebookTwitterWhatsapp

New Delhi:  The Union government’s fiscal deficit soared to Rs 10.75 lakh crore, or 135.1 per cent of the 2020-21 Budget Estimates (BE), at the end of November 2020, mainly on account of low realisation of revenue due to disruption in business activities amid the coronavirus pandemic.

The fiscal deficit at the end of November 2019 had stood at 114.8 per cent of 2019-20 BE.

Related posts

Cong accuses Amit Shah of hiding liabilities in RS poll affidavit; BJP terms allegations ‘fake’

Make tech and people’s interest integral to ‘work culture’ of cooperative sector: Amit Shah

July 6, 2025

FM discusses issues of bilateral cooperation with Russian, Chinese counterparts

July 6, 2025

In absolute terms, the fiscal deficit stood at Rs 10,75,507 crore at the end of November 2020, according to the latest data released by the Controller General of Accounts (CGA).

The lockdown imposed to curb the spread of coronavirus had significantly impacted business activities and, in turn, contributed to sluggish revenue realisation.

The fiscal defict, or gap between the expenditure and revenue, had breached the annual target in July this year.

The government’s total receipts stood at Rs 8,30,851 crore (37 per cent of BE 2020-21) till the end of November 2020. This included Rs 6,88,430 crore tax revenue (net to centre), Rs 1,24,280 crore of non-tax revenue and Rs 18,141 crore of non-debt capital receipts. Non-debt capital receipts consist of recovery of loans and disinvestment proceeds.

The tax revenue collection was 42.1 per cent of BE of 2020-21, compared with 45.5 per cent of BE (2019-20) during the corresponding period a year ago. Non-tax revenue was 32.3 per cent of BE. During the corresponding period of the last fiscal, it was 74.3 per cent of BE 2019-20.

During the corresponding period last fiscal, the total receipts were 48.6 per cent of 2019-20 BE.

According to the data, over Rs 3.34 lakh crore were transferred to state governments as devolution of share of taxes by the Government of India up to November 2020.

The CGA data said the total expenditure incurred by the government stood at Rs 19,06,358 crore or 63 per cent of BE. Of the total expenditure, Rs 16,65,200 crore was on revenue account and Rs 2,41,158 crore on capital account.

It further said that out of the total revenue expenditure, over Rs 3.83 lakh crore was on account of interest payments and Rs 2,02,119 crore towards major subsidies.

For this financial year, the government had pegged the fiscal deficit at Rs 7.96 lakh crore or 3.5 per cent of the GDP in the Union Budget, which was presented by Finance Minister Nirmala Sitharaman in February 2020. These figures, however, may have to be revised significantly in view of the economic disruptions created by the coronavirus pandemic.

Fiscal deficit had soared to seven-year high of 4.6 per cent of the gross domestic product in 2019-20, mainly due to poor revenue realisation.

Previous Post

Blast at Aden airport kills 25, wounds 110: Yemeni officials

Next Post

Training prog for implementation of FRA-2006 concludes

Press Trust of india

Press Trust of india

Next Post
Training prog for implementation of FRA-2006 concludes

Training prog for implementation of FRA-2006 concludes

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ePaper

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: [email protected]

© 2024 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2024 Kashmir Images - Designed by GITS.