Fiscal deficit went down to 4.7% in 2010-11 as per Controller General of Accounts Data

According to data released by the Controller General of Accounts on 31 May 2011 the fiscal deficit was lower by around Rs 32000 crore over the revised estimates for 2010-11. The decrease in fiscal deficit was credited to better revenue realisation and expenditure compression.

The government was able to contain the fiscal deficit which is the gap between overall expenditure and receipts at 4.7 per cent of the Gross Domestic Product (GDP) during 2010-11. It was much lower than the revised estimate of 5.1 per cent for the fiscal year.

According to the official figures released, the fiscal deficit in monetary terms stood at Rs. 369043 crore for the year ended March 2011 which works out to 4.69 per cent of the GDP of Rs. 7875627 crore. The total fiscal deficit during 2010-11 stood at Rs 369043 crore, which was 92% of the revised estimate of Rs 400998 crore.

Finance Minister Pranab Mukherjee had revised the fiscal deficit for 2010-11 to 5.1 per cent in February 2011 from the earlier estimate of 5.5 per cent in view of the higher-than-expected realisation from 3G and BWA spectrum auction. However the further lowering resulted from the higher collection in taxes during the year.

Revenue receipts in 2010-11 were Rs794277 crore, which was 101.3% of the revised estimate of Rs 783833 crore. Of this, tax receipts were Rs 572,790 crore or 101.6% of the revised estimate of Rs 563685 crore. Non-tax receipts stood at Rs221487 crore, which was 100.6% of the revised estimate of Rs 220148.

Non-debt capital receipts in 2010-11 stood at Rs 35599 crore which was 112.1% of the Rs 31745 crore fixed in the revised estimates by the government.

The plan expenditure in 2010-11 was Rs377350 crore which was 95.5% of the revised estimate of Rs395024 crore. Total expenditure during the fiscal was Rs 1198919 crore or 98.6% of the revised estimate of Rs 1216576 crore. The revenue deficit in 2010-11 stood at Rs 244853 crore which was 90.7% of the revised estimate of Rs 269844 crore.

The Centre's fiscal deficit had grown to over 6% in 2008-09, after the government’s stimulus measures for a slowing economy.

For 2011-12, the government set a target to bring down the fiscal deficit to 4.6 per cent.