Fiscal deficit lower at 3.39% in FY19

New Delhi: The fiscal deficit for 2018-19 came in at 3.39 per cent of GDP, marginally lower than 3.4 per cent projected in the revised estimates of the Budget, mainly due to lower expenditure and increase in non-tax revenue.

In absolute terms, the fiscal deficit at the end of March 31, 2019, stood at Rs 6.45 lakh crore as against Rs 6.34 lakh crore in the revised estimates of Budget. The fiscal deficit for 2018-19 works out to be 3.39 per cent of GDP, as per data released by Controller General of Accounts (CGA).

Although in absolute terms the fiscal deficit has gone up, but as a percentage of GDP the deficit figure has come down marginally, mainly on account of gross domestic product expansion in 2018-19.

GDP at current market prices in 2018-19 is estimated at Rs 190.10 lakh crore, a 11.2 per cent growth over Rs 170.95 lakh crore in 2017-18. Non-tax revenues during the 2018-19 fiscal stood at Rs 2.46 lakh crore, marginally higher than Rs 2.45 lakh crore in the revised estimates of Budget.

However, tax revenue lagged at Rs 13.16 lakh crore during the last fiscal, as against Rs 14.84 lakh crore in the revised estimates. Total receipts stood at Rs 16.66 lakh crore during the fiscal, compared to Rs 18.22 lakh crore in the revised estimates.