Thursday, August 1, 2013



June Fiscal Deficit at 48.4% of Actuals to FY14BEs

The gross fiscal deficit of the Central government stands at 48.4% of the actuals to budget estimates at the end of June 2013 as compared to 37.1% of the actuals to budget estimates in the corresponding period of the previous year. The primary deficit significantly increased to 117.2% of the actuals to budget estimates at the end of June 2013 as compared to 67% of the actuals to budget estimates during corresponding period of the previous year.


 Differentials in use of fiscal deficit space by June 2013 vis-୶is June 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 June 2013 of the central government stands at 11.1% of the actuals to budget estimates as compared with 12.7% of the actuals to budget estimates at the end of June 2012.   

Fiscal position for June FY2014 vis-୶is June 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
 --
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 35% of the actuals to budget estimates at the end of June 2013 as compared with 36% of the actuals to budget estimates at the end of June 2012. The domestic financing stands at 49% of the actuals to budget estimates at the end of June 2013, higher as compared to 38% of the actuals to budget estimates at the end of June 2012. The external financing of the government stands at 4% of the actuals to budget estimates at the end of June 2013 as against (-) 15% of the actuals to budget estimates at the end of June 2012. The total financing of the central government stands at 48% of the actuals to budget estimates at the end of June 2013 as against 37% 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 June 2012 and June 2013

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