India’s fiscal deficit touched 94.7% of the budgeted target during the April-August period while revenue deficit crossed the budget estimate at 113.8% in the same period
New Delhi: Despite a substantial increase in transfer of surplus by the Reserve Bank of India (RBI) to the government, India’s fiscal deficit touched 94.7% of the budgeted target during the April-August period while revenue deficit crossed the budget estimate at 113.8% in the same period, showed data issued on Tuesday by the Controller General of Accounts (CGA).
In the same period last year, government had exhausted 96.1% of fiscal deficit and 113.8% of revenue deficit.
From a ?30,659 crore surplus last year, RBI transfers jumped 63% to ?50,000 crore this year.
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