Fiscal Deficit Hits Rs 8.47 Lakh Cr till November, 52.5% of Annual Target: Govt

India’s fiscal deficit for the first eight months of this fiscal year through November stood at 8.47 lakh crore rupees or 52.5 percent of annual estimates, data from the Ministry of Finance showed. Total receipts stood at Rs 18.94 lakh crore rupees, while overall expenditure from April to November was at Rs 27.41 lakh crore rupees.

These figures were 59.1 percent and 56.9 percent of this fiscal year’s budget target. Tax revenue was Rs 14.43 lakh crore rupees, and non-tax revenue was Rs 4.27 lakh crore rupees.

The central government’s fiscal deficit target is 4.9 percent of the gross domestic product for 2024-25, as announced by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25 against 5.6 percent in 2023-24, which was lower than the revised estimates of 5.8 percent.

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