India's fiscal deficit for the first quarter of the financial year 2024-25 was ₹1.36 lakh crore, which was 8.1% of the entire annual estimate, according to government data.
A cashier displays the new 2000 Indian rupee banknotes inside a bank in Jammu. (Reuters)
This represents significant narrowing as the fiscal deficit for Q1 2023-24 was 25.3% in comparison.
Revenue receipts was ₹8.30 lakh crore, with tax revenue being ₹5.50 lakh crore and non-tax revenue being ₹2.80 lakh crore. Non-tax revenue increased due to the ₹2.11 lakh crore dividend payout by the Reserve Bank of India (RBI).
{{/usCountry}}
{{#usCountry}}
Revenue receipts was ₹8.30 lakh crore, with tax revenue being ₹5.50 lakh crore and non-tax revenue being ₹2.80 lakh crore. Non-tax revenue increased due to the ₹2.11 lakh crore dividend payout by the Reserve Bank of India (RBI).
{{/usCountry}}
Tax revenue was 21.1% this year's first quarter, compared to 18.6% in the first quarter of last year, while non-tax revenue was 70.1% compared to 51.4% last year.
Finance Minister Nirmala Sitharaman had kept the fiscal deficit target to 4.9% in the Union Budget 2024 presented on July 23. This was below the 5.1% target seen in the interim budget presented in February.
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Home/Business/India's fiscal deficit at ₹1.36 lakh crore or 8.1% of annual estimate for Q1 2024-25
{{^htLoading}}
Advertisement
{{/htLoading}}
SHARE THIS ARTICLE ON
{{#usCountry}}{{/usCountry}}
Hindustantimes wants to start sending you push notifications. Click allow to subscribe
