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Central Government’s Fiscal Position: April – October 2020

Published: November 28, 2020
Author: TEXTILE VALUE CHAIN

During the first 7 months of FY21, the finances of the central government clearly depict the coronavirus pandemic induced stress though partial improvement has been witnessed on a sequential basis.

During April – October 2020, the fiscal deficit of the central government reached 119.7% of the budgeted estimate (Rs. 7.7 lakh crore) at Rs. 9.53 lakh crore. Taking into consideration revised gross borrowing plan to Rs. 13.1 lakh crore, the fiscal deficit continues to be within the target. Total receipts have declined by 24.2%. Notably, the capital expenditure is 1.9% lower than the same period of last year and is only 48% of the budget estimate. Financing of the fiscal deficit is mainly by way of market borrowings.

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