June Fiscal Deficit at 48.4% of Actuals to FY14BEs
The gross fiscal deficit of the Central government stands at 48.4% of the actuals to budget estimates at the end of June 2013 as compared to 37.1% of the actuals to budget estimates in the corresponding period of the previous year. The primary deficit significantly increased to 117.2% of the actuals to budget estimates at the end of June 2013 as compared to 67% of the actuals to budget estimates during corresponding period of the previous year.
Differentials in use of fiscal deficit space by June 2013 vis-୶is June 2012 (in %)
Source: PHD Research Bureau, compiled from Government of India accounts, Government of India
Note: The Fiscal deficit data pertains to the end of the respective month
The data for February 2013 and February 2012 pertains to actuals to revised estimates
* indicates data at the end of respective financial year and are % of actuals to revised estimates
The revenue receipts at the end of June 2013 of the central government stands at 11.1% of the actuals to budget estimates as compared with 12.7% of the actuals to budget estimates at the end of June 2012.
Fiscal position for June FY2014 vis-୶is June FY2013
Month | % of Actuals to Budget Estimates FY2014* | % of Actuals to Budgeted Estimates FY2013* | % of Actuals to Budgeted Estimates FY2012* |
April | 17.3 | 13.1 | 18.1 |
May | 33.3 | 27.6 | 31.7 |
June | 48.4 | 37.1 | 39.4 |
July | -- | 51.5 | 55.4 |
August | -- | 65.7 | 66.3 |
September | -- | 65.6 | 68 |
October | -- | 71.6 | 74.4 |
November | -- | 80.4 | 85.6 |
December | -- | 78.8 | 92.3 |
January | -- | 90.7 | 105.4 |
February** | -- | 97.4 | 94.6 |
March | -- | 94^ | 98.9^ |
Source: PHD Research Bureau, compiled from Union Government Accounts, Government of India
Note: * Data pertains to the end of the respective month
** Data for February 2013 and February 2012 pertains to actuals to revised estimates
^ indicates data at the end of respective financial year and are % of actuals to revised estimates
The government’s market borrowing stands at 35% of the actuals to budget estimates at the end of June 2013 as compared with 36% of the actuals to budget estimates at the end of June 2012. The domestic financing stands at 49% of the actuals to budget estimates at the end of June 2013, higher as compared to 38% of the actuals to budget estimates at the end of June 2012. The external financing of the government stands at 4% of the actuals to budget estimates at the end of June 2013 as against (-) 15% of the actuals to budget estimates at the end of June 2012. The total financing of the central government stands at 48% of the actuals to budget estimates at the end of June 2013 as against 37% of the actuals to budget estimates during the corresponding period of previous year.
Sources of financing the deficit (%)
Source: PHD Research Bureau, compiled from Union Government Accounts, Government of India
Note: Data pertains to the end of the June 2012 and June 2013