January 2018 India fiscal deficit stands at 113.7 % of actuals to BEs

 

The gross fiscal deficit of the Central government stands at 113.7% of the actuals to budget estimates (BEs) at the end of January 2018 as compared to 105.6% of the actuals to budget estimates in the corresponding period of the previous year. The primary deficit was registered at 409.8% of the actuals to budget estimates at the end of January 2018 as compared to 382.0% of the actuals to budget estimates during corresponding period of the previous year.

Differentials in use of fiscal deficit space at the end of January 2018 vis-à-vis January 2017 (in%)

Source: PHD Research Bureau, compiled from Government of India accounts, Government of India

Note: The Fiscal deficit data pertains to the end of the respective month * indicates data at the end of respective financial year and are % of actuals to revised estimates

The revenue receipts at the end of January 2018 of the central government stands at 72.8% of the actuals to budget estimates as compared with 70.9% of the actuals to budget estimates at the end of January 2017.

 

                 Fiscal position for January 2018 vis-à-vis January 2017

Month

% of Actuals to Budget EstimatesFY2018*

% of Actuals to Budget Estimates FY2017*

% of Actuals to Budget Estimates FY2016*

% of Actuals to Budget Estimates FY2015*

April

37.6

25.7

23

21.4

May

68.3

42.9

37.5

45.3

June

80.8

61.1

51.6

56.1

July

92.4

73.7

69.3

61.2

August

96.1

76.4

66.5

74.9

September

91.3

83.9

68.1

82.6

October

96.1

79.3

74

89.6

November

112

85.8

87

98.9

December

113.6

93.9

87.9

100.2

January

113.7

105.7

95.8

107.0

February

113.4

107.1

117.5

March

100.1

99.5

99.6

Note: * Data pertains to the end of the respective month. *indicates data at the end of respective financial year and are % of actuals to revised estimates

The government’s market borrowing stands at 103% of the actuals to budget estimates at the end of January 2018 as compared with 114% of the actuals to budget estimates at the end of January 2017. The domestic financing stands at 112% of the actuals to budget estimates at the end of January 2018 as compared to 107% of the actuals to budget estimates at the end of January 2017. The external financing of the government stands at 486% of the actuals to budget estimates at the end of January 2018 as against 55% of the actuals to budget estimates at the end of January 2017. The total financing of the central government stands at 114 % of the actuals to budget estimates at the end of January 2018 as against 106% of the actuals to budget estimates at the end of January 2017.

 

  Sources of financing the deficit                                                                                  (%)

  Note: Data pertains to the end of January 2018 vis-à-vis January 2017

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