India’s Fiscal Deficit for April-May Period stood at 1.41 Lakh Crore Rupees

As per the latest data released by the Controller General of Accounts (CGA), India's fiscal deficit during the April-May, the first two months of the fiscal year 2012-13 stood at 1.41 lakh crore rupees, 27 per cent of the budget estimates.

The increased fiscal deficit figure came despite revenue receipt witnessing a substantial hike and stood at 47897 crore rupees, which was 5.1 per cent of the budget estimates. Total expenditure of the government in the first two months of fiscal year 2012-13 was 1.90 lakh crore rupees, or 12.8 per cent of the budget estimates. For the fiscal year 2012-13, the government has pegged the fiscal deficit target at 5.13 lakh crore rupees, or 5.1 per cent of GDP.

In the corresponding period during the last fiscal year, the fiscal deficit was 32 per cent of the budget estimate amounting 1.3 lakh crore rupees.