During the same period of the 2013-14 fiscal, the deficit was at 76 per cent of the Budget Estimates (BE).
Net tax receipts in the first half of the fiscal stood at Rs 3.23 lakh crore, or 33.1 per cent of BE, the data released by the Controller General of Accounts today showed.
Total expenditure of the government during April- September was over Rs 8.62 lakh crore or 48 per cent of the estimates for the entire 2014-15 fiscal.
Revenue collection was over Rs 4.17 lakh crore or 35.1 per cent of the BE for the period.
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The data showed that the revenue deficit during the period was over Rs 3.45 lakh crore or 91.2 per cent of the full year target.
The fiscal deficit was over Rs 5.08 lakh crore or 4.5 per cent of GDP in 2013-14. It was 4.9 per cent in 2012-13.
To reduce the fiscal deficit to the 7-year low level, the government had yesterday announced a slew of austerity measures aimed at cutting non-plan spending by 10 per cent.
As per the measures, the government has banned first class air travel for bureaucrats, meetings in five-star hotels and purchase of cars. It also decided to freeze new appointments.
"Such measures are intended at promoting fiscal discipline, without restricting the operational efficiency of the government," a finance ministry statement said.