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

The Centre’s fiscal deficit for the first two months of 2020-21 came in at Rs 4.66 trillion, or 58.6 per cent of the full year target of Rs 7.96 trillion, primarily on the back of a crunch in tax and non-tax revenue and capital receipts, official data showed on Tuesday.

This compares to 52 per cent for the same 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 to 7 per cent for the same period last year. Non-tax revenue was 2.8 per cent compared with 9.1 per cent and non-debt capital receipt was 0.4 per cent compared with 2.6 per cent.

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.