The monthly account till February-end revealed that the government has collected Rs12.83 trillion revenue, which is 79.09% of revised estimates. Photo: MintNew Delhi:India’s fiscal deficit soared to Rs7.15 trillion at the end of February, exceeding the revised target of Rs5.94 trillion for the entire 2017-18 fiscal. As per data released by the Controller General of Accounts (CGA), fiscal deficit for April-February was 120% of the revised estimates on account of increased expenditure and subdued revenue receipts. The monthly account till February-end revealed that the government has collected Rs12.83 trillion revenue, which is 79.09% of revised estimates. The fiscal deficit or gap between total expenditure and revenues has been pegged at 3.3% for 2018-19.

Source: Mint March 28, 2018 10:46 UTC