The fiscal deficit in the first half of the year is at a promising 38.3 per cent of the budget estimates. This is much better, compared to the 65.5 per cent in the same period last year.
The revenue deficit is also down to 34 per cent of the budget estimates, at Rs 26,306 crores, compared to 66.1 per cent last year. The better position is attributed to the higher inflows from tax revenue, pegged at Rs 54,082 crores, making it 37 per cent compared to 35.8 per cent last year. Non-tax revenue, at Rs 28,816 crore, is also over 50 per cent of the target.
On the expenditure side too, the picture is brighter with a lower level of aggregate expenditure of 38.4 per cent (Rs 130,115 crore). This is also lower than the corresponding figure in the first half of last year when it was 43.9 per cent.
But the areas of concern, according to the figures released by the controller general of accounts for September yesterday, are plan expenditure which is marginally down from last year