Centre's fiscal deficit hits 12.3% of full-year target in April-May period

Non-tax revenue came in at Rs 49,251 crore, or 18.3 per cent of the full year target of Rs 2.69 trillion, compared with 48 per cent for the same period last year

The Centre’s fiscal deficit for the first two months (April-May) of FY23 came in at Rs 2.04 trillion, or 12.3 per cent of the Budget Estimate of Rs 16.6 trillion, compared with 8.2 per cent for the same period last year, primarily on the back of lower non-tax revenue and higher capital expenditure.

According to data released on Thursday by the Controller General of Accounts (CGA), net tax revenues for April-May came in at Rs 3.07 trillion, or 15.9 per cent of FY23 BE of Rs 19.35 trillion. For April-May FY22, net tax revenue was 15.1 percent of the full-year