Key Points
The Central governments fiscal deficit in the first five months of this fiscal year hit 36% of the annual target, up from 32.6% a year before, as the pace of spending slowed a tad in August from the previous month but it still remained higher than the previous year, showed the official data released on Friday...
In absolute terms, the fiscal deficit touched Rs 6.43 lakh crore between April and August, compared with Rs 5.42 lakh crore a year earlier..
Until July, the Centres fiscal deficit had touched 33.9% of the annual target, sharply higher than 20.5% a year earlier...
Capital spending jumped 48% between April and August from a year earlier to Rs 3.74 lakh crore, higher than the budgeted annual rise of about 36%, as the government kept pushing such productive expenditure to spur economic growth...
ICRA chief economist Aditi Nayar said: "A year-on-year dip in the amount of tax devolution to the states in August 2023 helped to narrow the wedge in the fiscal deficit in April-August FY24 relative to the year-ago levels, and also contained the monthly increment in the fiscal deficit to a low Rs 372 billion."..
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