June Fiscal Deficit at 48.4% of Actuals to FY14BEs

June Fiscal Deficit at 48.4% of Actuals to FY14BEs

The gross fiscal deficit of the Central government stands at 48.4% of the actuals to budget estimates at the end of June 2013 as compared to 37.1% of the actuals to budget estimates in the corresponding period of the previous year. The primary deficit significantly increased to 117.2% of the actuals to budget estimates at the end of June 2013 as compared to 67% of the actuals to budget estimates during corresponding period of the previous year.

 Differentials in use of fiscal deficit space by June 2013 vis-୶is June 2012               (in %)

Source: PHD Research Bureau, compiled from Government of India accounts, Government of India

Note: The Fiscal deficit data pertains to the end of the respective month

 The data for February 2013 and February 2012 pertains to actuals to revised estimates

* indicates data at the end of respective financial year and are % of actuals to revised estimates

The revenue receipts at the end of June 2013 of the central government stands at 11.1% of the actuals to budget estimates as compared with 12.7% of the actuals to budget estimates at the end of June 2012.   

Fiscal position for June FY2014 vis-୶is June FY2013

Month	% of Actuals to Budget Estimates FY2014*	% of Actuals to Budgeted Estimates FY2013*	% of Actuals to Budgeted Estimates FY2012*
April	17.3	13.1	18.1
May	33.3	27.6	31.7
June	48.4	37.1	39.4
July	--	51.5	55.4
August	--	65.7	66.3
September	--	65.6	68
October	--	71.6	74.4
November	--	80.4	85.6
December	--	78.8	92.3
January	--	90.7	105.4
February**	--	97.4	94.6
March	--	94^	98.9^

Source: PHD Research Bureau, compiled from Union Government Accounts, Government of India

Note: * Data pertains to the end of the respective month

** Data for February 2013 and February 2012 pertains to actuals to revised estimates

^ indicates data at the end of respective financial year and are % of actuals to revised estimates

The government’s market borrowing stands at 35% of the actuals to budget estimates at the end of June 2013 as compared with 36% of the actuals to budget estimates at the end of June 2012. The domestic financing stands at 49% of the actuals to budget estimates at the end of June 2013, higher as compared to 38% of the actuals to budget estimates at the end of June 2012. The external financing of the government stands at 4% of the actuals to budget estimates at the end of June 2013 as against (-) 15% of the actuals to budget estimates at the end of June 2012. The total financing of the central government stands at 48% of the actuals to budget estimates at the end of June 2013 as against 37% of the actuals to budget estimates during the corresponding period of previous year.

   Sources of financing the deficit                                                                              (%)

 Source: PHD Research Bureau, compiled from Union Government Accounts, Government of India

Note: Data pertains to the end of the June 2012 and June 2013