May fiscal deficit at Rs 1.23 lakh crore, 8.2% of FY22 target

India's fiscal deficit stood at 8.2% of the FY22 target at Rs 1.23 lakh crore in April-May, as per data released on Wednesday. Last year, the fiscal deficit for the two months was at 58.6% of budget estimate.

In absolute terms, the fiscal deficit was Rs 1,23,174 crore at end-May 2021. The government expects the fiscal deficit for 2021-2022 at 6.8% of GDP or Rs 15,06,812 crore.

Fiscal deficit for 2020-21 was at 9.3% of the gross domestic product (GDP), lower than 9.5% estimated by the Finance Ministry in the revised Budget estimates, according to CGA data.


Net tax receipts were Rs 2.34 lakh crore while total expenditure was Rs 4.78 lakh crore, the data showed.

The Centre received Rs 3,54,787 crore (17.95% of corresponding estimates 2021-22 of total receipts) for May 2021. This comprised Rs 2.33 lakh crore tax revenue (net to Centre), Rs 1.16 lakh crore of non-tax revenue and Rs 4,810 crore of non debt capital receipts.

Non debt capital receipts consist of recovery of loans Rs 815 crore and disinvestment proceeds of Rs 3,995 crore.

The total receipts were 2% of the Budget estimates in the corresponding period last fiscal.

Finance Minister Nirmala Sitharaman earlier this week announced eight economic relief measures, along with eight other items related to growth, trade and employment with a total outlay of over Rs 6 lakh crore.