Apr-Aug fiscal deficit at 74.6% of actuals to BEs
The gross fiscal deficit of the Central government stands at 74.6% of the actuals to budget estimates at the end of August 2013 as compared to 65.7% of the actuals to budget estimates in the corresponding period of the previous year. The primary deficit significantly increased to 160.9% of the actuals to budget estimates at the end of August 2013 as compared to 115.4% of the actuals to budget estimates during corresponding period of the previous year.
Differentials in use of fiscal deficit space by August 2013 vis-à-vis August 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 August 2013 of the central government stands at 23.9% of the actuals to budget estimates as compared with 23.8% of the actuals to budget estimates at the end of August 2012.
Fiscal position for August FY2014 vis-à-vis August 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
|
62.8
|
51.5
|
55.4
|
August
|
74.6
|
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 62% of the actuals to budget estimates at the end of August 2013 as compared with 60% of the actuals to budget estimates at the end of August 2012. The domestic financing stands at 76% of the actuals to budget estimates at the end of August 2013 as compared to 67% of the actuals to budget estimates at the end of August 2012. The external financing of the government stands at 7% of the actuals to budget estimates at the end of August 2013 as against (-) 7% of the actuals to budget estimates at the end of August 2012. The total financing of the central government stands at 75% of the actuals to budget estimates at the end of August 2013 as against 66% 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 August 2012 and August 2013
Regards,
Dr. S P Sharma
Chief Economist
________________________________________________
PHD Research Bureau
PHD Chamber of Commerce and Industry
August Kranti Marg, New Delhi – 110016
No comments:
Post a Comment