April-May fiscal deficit at 58.6% of fiscal year target as revenue slumps

Total revenue was Rs 45,498 crore, or 2 per cent of the budgeted estimate of Rs 22.46 trillion, compared to 7.1 per cent for the same period last year.

The Centre’s fiscal deficit for the first two months of financial year 2020-21 (FY21) came in at Rs 4.66 trillion, or 58.6 per cent of the full year target of Rs 7.96 trillion. 

This was primarily because of a crunch in tax and non-tax revenues and capital receipts, official data released on Tuesday showed. It was 52 per cent for the corresponding period last year.

According to the Controller General of Accounts, net tax revenue for April-May was 2.1 per cent of the full-year target, compared with 7 per cent a year ago. Non-tax revenue was 2.8 per cent, compared