Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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India’s fiscal deficit in the first seven months of the financial year, at Rs. 6.49 lakh crore, exceeded the budgeted target for the entire year, coming in at 103.9% of that target, according to official data released on Friday.The fiscal deficit was 96.1% of the budgeted amount in the same period of the previous year.Net tax receipts were Rs. 6.61 lakh crore in the April-October 2018 period, which is only 44.7% of the budgeted estimates for the year, with just five months to go. Total receipts, at Rs. 8.08 lakh crore, were only 44.4% of the budgeted amount for the year. Total expenditure, on the other hand, stood at Rs. 14.5 lakh crore, which is 59.6% of the budget estimate for the year.
