Fiscal deficit target on track: Finmin | business | Hindustan Times
Today in New Delhi, India
May 28, 2017-Sunday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Fiscal deficit target on track: Finmin

The finance ministry has exuded confidence that it would end 2011-12 with targeted fiscal deficit of 4.6% of the Gross Domestic Product (GDP) on the back of revenue growth in line with budget estimates.

business Updated: Sep 06, 2011 22:45 IST

The finance ministry has exuded confidence that it would end 2011-12 with targeted fiscal deficit of 4.6% of the Gross Domestic Product (GDP) on the back of revenue growth in line with budget estimates.

"As per the Q1 (April-June 2011-12) trends, better than estimated growth in tax revenue receipts and rationalisation of expenditure are expected to help in meeting the fiscal deficit target during the current year at 4.6% of GDP," said a quarterly review statement tabled by finance minister Pranab Mukherjee in Lok Sabha.

As regards the high fiscal deficit figure at the end of the first quarter, the statement attributed it to front loading of the direct tax refunds and the government receipt of Rs 1.1 lakh crore on account of auction of 3G and BWA spectrum last year, a windfall not available this fiscal.