The Centre's fiscal deficit at the end of the first seven months of financial year 2024-25 touched 46.5 per cent of the full-year target, government data showed on Friday.

       In absolute terms, the fiscal deficit -- the gap between government's expenditure and revenue -- was at Rs 7,50,824 crore during April-October period, according to data released by the Controller General of Accounts (CGA).

       The deficit stood at 45 per cent of the Budget Estimates (BE) in the corresponding period of 2023-24.

       In the Union Budget, the government projected to bring down the fiscal deficit to 4.9 per cent of gross domestic product (GDP) in the current 2024-25 financial year. The deficit was 5.6 per cent of the GDP in 2023-24.

       In absolute terms, the government aims to contain the fiscal deficit at Rs 16,13,312 crore during the current fiscal.

       The revenue-expenditure data of the Union government for the first seven months of 2024-25 showed that the net tax revenue was about Rs 13 lakh crore or 50.5 per cent of budget estimate for the current fiscal.

       More From This Section

       India's GDP slows to 5.4% in September quarter, lowest in 7 quarters

       Govt mulls change in base year to 2022-23 from 2011-12 for GDP computation

       I-T dept probes 500 Dubai property cases, Rs 700 cr evasion found in Delhi

       India's falling wages hit economy as consumers cut back on everything

       Maha Kumbh 2025 to give Uttar Pradesh a chance to wave tourism potential

       The net tax revenue collection was 55.9 per cent at September-end of 2023.

       The central government's total expenditure in the seven months through October stood at Rs 24.7 lakh crore or 51.3 per cent of budget estimate. Expenditure was 53.2 per cent of budget estimate in the year-ago period.

       Of the total expenditure, Rs 20 lakh crore was in the revenue account and Rs 4.66 lakh crore in the capital account.

       Fiscal deficit is the difference between the total expenditure and revenue of the government. It is an indication of the total borrowing that is needed by the government.

       Also Read

       Fiscal deficit likely to be at 4.75% in FY25; capex at Rs 62K cr: IndRa

       Trade gap, FPI outflows push banking liquidity into deficit after 2 months

       Impacting growth, liquidity management: Shifting sands of fiscal policy

       No commitment to lowering fiscal deficit, says Montek Singh Ahluwalia

       Andhra Pradesh govt presents Rs 2.9 trn budget; see all major allocations