Govt’s fiscal deficit hits 94% of annual target in April-November
31 Dec 2013
The government's fiscal deficit has shot up to Rs5,10,000 crore during the first half of the current fiscal (April-November 2013-14), or about 93.9 per cent of the full-year target, government data showed.
The government has already announced the schedule for sale of an additional Rs15,000 crore worth of bonds on 3 January 2014 and with government borrowings already above the annual target, the government's fiscal deficit could well touch 6 per cent of GDP by the year-end.
This includes the sale (re-issue) of the 8.12 per cent 2020 government stock for a notified amount of Rs4,000 crore, 8.24 per cent 2027 stock for a notified amount of Rs7,000 crore, 9.20 per cent 2030 stock for a notified amount of Rs2,000 crore and the 8.30 per cent 2042 stock for a notified amount of Rs2,000 crore.
The government is expected to have collected a net Rs3,96,000 crore in taxes in the first eight months of the current fiscal ending March 2014, while total expenditure of the government stood at Rs10,21,000 crore.
.jpg "RBI keeps repo rate unchanged as focus remains on inflation")
.jpg "Indian Oil, Panasonic team up for lithium-ion cell production in India")
