Fiscal deficit @ 62.8% of actuals to FY 14 BEs

July Fiscal Deficit at 62.8% of Actuals to FY14BEs

1 09 2013

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 July2013 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.