• Feedback
  • RSS Feed
  • Sitemap
Ommcom News
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ
No Result
View All Result
Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Nation

India’s Fiscal Deficit Registers Steep Fall In First 2 Months Of 2024-25

OMMCOM NEWS by OMMCOM NEWS
June 28, 2024
in Nation

New Delhi: The Centre’s fiscal deficit narrowed to 3 per cent of the full-year estimate in the first two months of the current financial year (2024-25) compared to 11.8 per cent during the same period of the previous fiscal on the back of strong revenue growth and higher dividend from the RBI, official data released on Friday showed.

Net tax revenues in April-May stood at Rs 3.19 lakh crore, or 12 per cent of the annual target, which is higher than the corresponding figures of Rs 2.78 lakh crore in the same period last year.

The government’s total expenditure in the same period was Rs 6.23 lakh crore, or about 13 per cent of the annual target. In April-May 2023, the overall expenditure was Rs 6.26 lakh crore.

While net tax revenues rose 15 per cent, non-tax revenues increased 87 per cent owing to the huge Rs 2.1 lakh crore RBI dividend to the government.

In value terms, the fiscal deficit until May was Rs 50,615 crore, owing to a surplus of Rs 1.6 lakh crore in May, with total receipts at Rs 5.73 lakh crore and total expenditure at Rs 6.23 lakh crore.

“The Government of India witnessed a fiscal surplus of Rs 1.6 lakh crore in May 2024 owing to the large RBI dividend transfer of Rs 2.1 lakh crore that month. This pulled down the fiscal deficit to Rs 50,615 crore or a mere 3 per cent of the FY2025 Interim Budget estimates in April-May FY2025, from Rs. 2.1 lakh crore in April-May FY2024,” said ICRA chief economist Aditi Nayar.

While revenue expenditure rose by 4.7 per cent YoY, capex contracted by 14.4 per cent during this period, likely dampened by a temporary pause in execution amid the Model Code of Conduct for the Lok Sabha polls, she added.

The Finance Ministry aims to narrow the country’s fiscal deficit to 4.5 per cent of gross domestic product by the end of FY26, from the 5.1 per cent projected in the current financial year.

“The revenue upside seen from non-tax, and to a smaller extent, tax receipts suggest headroom to both boost expenditure and target a faster fiscal consolidation than what was pencilled in the Interim Budget for FY25,” said Nayar.

The government is expected to present the full budget for 2024-25 in the second half of July.

(IANS)

ShareTweetSendSharePinShareSend
Previous Post

Woman, Lover Awarded Life Term For Killing Husband In Sundergarh

Next Post

2 Women Killed In Road Mishap In Sundargarh

Related Posts

Nation

EPFO Hikes Auto-Settlement Limit For Advance Claims To Rs 5 Lakh In ‘People-Centric Move’

June 24, 2025
Nation

US Travel Advisory Inaccurate, Will Discuss With Envoy: Meghalaya CM

June 24, 2025
Nation

PM Modi Speaks To Mauritian Counterpart, Discusses Strengthening Strategic Partnership

June 24, 2025
RG Kar Case
Nation

RG Kar Rape & Murder Case: CBI Has No Objection To Victim’s Parents Surveying Crime Scene

June 24, 2025
Nation

17 Militants Held, 24 Weapons Recovered In Joint Ops By Army, Security Forces In Manipur

June 24, 2025
Manohar Lal Khattar
Nation

Bihar To Get Nuclear Power Plant Soon: Union Minister

June 24, 2025
Next Post
accidnet

2 Women Killed In Road Mishap In Sundargarh

Over 60,000 Cops Trained In Madhya Pradesh On Three New Criminal Laws

Shiv Sena Leader Congratulates PM Modi On 3rd Term, Unique Style Of Greeting Draws Attention

Khimji
OMC
  • Feedback
  • RSS Feed
  • Sitemap

© 2025 - Ommcom News. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Odisha
  • Nation
  • World
  • Sports
  • Business
  • Entertainment
  • Videos
  • Science & Tech
  • Photo Gallery
  • ଓଡ଼ିଆରେ ପଢନ୍ତୁ

© 2025 - Ommcom News. All Rights Reserved.