India's fiscal deficit shoots over its budgetary target by 109%

India's budgetary fiscal deficit for the April-August 2020-21 period stood at Rs 8.70 lakh crore, or 109.3 per cent of the budget estimates (BE).

The 2020-21 deficit -- the difference between revenue and expenditure -- has been pegged at Rs 7.96 lakh crore, as compared to the revised deficit of Rs 7.66 lakh crore for the last fiscal.

As per the Controller General of Accounts (CGA) data released on Wednesday, the fiscal deficit during the corresponding months of the previous fiscal was 78.7 per cent of that year's target.

The Central government's total expenditure stood at Rs 12.47 lakh crore (41 per cent of BE) while total receipts were Rs 3.77 lakh crore (16.8 per cent of BE).

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