The gross fiscal deficit of the Central government stands at 89.6% of the actuals to budget estimates at the end of Oct 2014 as compared to 84.4% of the actuals to budget estimates in the corresponding period of the previous year. The primary deficit significantly increased to 259% of the actuals to budget estimates at the end of Oct 2014 as compared to 159% of the actuals to budget estimates during corresponding period of the previous year.
Differentials in use of fiscal deficit space at the end of Oct 2014 vis-à-vis Oct 2013 (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 January 2014, February 2014, March 2014 and January 2013, February 2013, March 2013 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 Oct 2014 of the central government stands at 40.4% of the actuals to budget estimates as compared with 43.2% of the actuals to budget estimates at the end of Oct 2013.
Fiscal position for Oct FY2015 vis-à-vis Oct FY2014
Month
|
% of Actuals to Budget Estimates FY2015*
|
% of Actuals to Budget Estimates FY2014*
|
% of Actuals to Budgeted Estimates FY2013*
|
% of Actuals to Budgeted Estimates FY2012*
|
April
|
21.5
|
17.3
|
13.1
|
18.1
|
May
|
45.6
|
33.3
|
27.6
|
31.7
|
June
|
56.1
|
48.4
|
37.1
|
39.4
|
July
|
61.2
|
62.8
|
51.5
|
55.4
|
August
|
74.9
|
74.6
|
65.7
|
66.3
|
September
|
82.6
|
76.0
|
65.6
|
68
|
October
|
89.6
|
84.4
|
71.6
|
74.4
|
November
|
93.9
|
80.4
|
85.6
| |
December
|
95.2
|
78.8
|
92.3
| |
January
|
101.6
|
89.4
|
105.4
| |
February
|
114.3
|
97.4
|
94.6
| |
March
|
96.9^
|
94.1^
|
98.9^
|
Source: PHD Research Bureau, compiled from Union Government Accounts, Government of India
Note: * Data pertains to the end of the respective month
The Data for January 2014, February 2014, March 2014 and January 2013, February 2013, March 2013 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 67% of the actuals to budget estimates at the end of Oct 2014 as compared with 74% of the actuals to budget estimates at the end of Oct 2013. The domestic financing stands at 90% of the actuals to budget estimates at the end of Oct 2014 as compared to 86% of the actuals to budget estimates at the end of Oct 2013. The external financing of the government stands at 61% of the actuals to budget estimates at the end of Oct 2014 as against 19% of the actuals to budget estimates at the end of Oct 2013. The total financing of the central government stands at 90% of the actuals to budget estimates at the end of Oct 2014 as against 84% of the actuals to budget estimates at the end of Oct 2013.
Sources of financing the deficit (%)
Source: PHD Research Bureau, compiled from Union Government Accounts, Government of India
Note: Data pertains to the end of Oct 2013 and Oct 2014
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