India’s fiscal deficit crosses Rs 8 lakh crore in 7 months

New Delhi: India’s fiscal deficit in the first seven months of the current financial year stood at Rs 8.04 lakh crore, 45 per cent of the full year’s estimate, according to government data released on Thursday.

Net tax revenue for April-October stood at Rs 13.02 lakh crore, or 55.9 per cent of the annual estimate, as against Rs 11.71 lakh crore in the same period last year.

During 7 months, corporate tax collection has increased by 17.6 percent to Rs 4.82 lakh crore.

Total government expenditure during April-October was Rs 23.94 lakh crore, or 53.2 per cent of the budget target, compared to Rs 21.44 lakh crore in the same period last year.

In the first seven months of the current fiscal year, government capital expenditure stood at Rs 5.47 lakh crore, or 54.7 per cent of the annual target, compared to Rs 4.09 lakh crore for the same period last year.