July Fiscal Deficit
at 62.8% of Actuals to FY14BEs
The gross fiscal deficit of the Central government stands at 62.8%
of the actuals to budget estimates at the end of July 2013 as compared to
51.5% of the actuals to budget estimates in the corresponding period of the
previous year. The primary deficit significantly increased to 148% of the
actuals to budget estimates at the end of July 2013 as compared to 94.8% of the actuals to budget estimates
during corresponding period of the previous year.
Differentials in use of fiscal deficit
space by July 2013 vis-୶is July 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 July 2013 of the central
government stands at 16.7% of the actuals to budget estimates as compared with
18% of the actuals to budget estimates at the end of July 2012.
Fiscal position for July FY2014 vis-୶is July 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
|
--
|
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 50% of the
actuals to budget estimates at the end of July 2013 as compared with 49%
of the actuals to budget estimates at the end of July 2012. The domestic
financing stands at 64% of the actuals to budget estimates at the end of
July 2013, higher as compared to 53% of the actuals to budget estimates at
the end of July 2012. The external financing of the government stands at
10% of the actuals to budget estimates at the end of July 2013 as against
(-) 14 % of the actuals to budget estimates at the end of July 2012.
The total financing of the central government stands at 63% of the actuals to
budget estimates at the end of July 2013 as against 51% 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
July 2012 and July 2013
Regards,
Chief Economist
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