August 2018 fiscal deficit stands at 94.7 % of actuals to BEs


The gross fiscal deficit of the Central government stands at 94.7% of the actuals to budget estimates (BEs) at the end of August 2018 as compared to 96.1% of the actuals to budget estimates in the corresponding period of the previous year. The primary deficit was registered at 767.7% of the actuals to budget estimates at the end of August 2018 as compared to 1401.3% of the actuals to budget estimates during corresponding period of the previous year.

         Differentials in use of fiscal deficit space at the end of August 2018 vis-à-vis August 2017 (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 * indicates data at the end of respective financial year and
          are % of actuals to revised estimates         

The revenue receipts at the end of August 2018 of the central government stands at 26.9% of the actuals to budget estimates as compared with 27.0% of the actuals to budget estimates at the end of August 2017.

Fiscal position for August 2018 vis-à-vis August 2017
Month
% of Actuals to Budget Estimates FY2019*
% of Actuals to Budget EstimatesFY2018*
% of Actuals to Budget Estimates FY2017*
% of Actuals to Budget Estimates FY2016*
April
24.3
37.6
25.7
23
May
55.3
68.3
42.9
37.5
June
68.7
80.8
61.1
51.6
July
86.5
92.4
73.7
69.3
August
94.7
96.1
76.4
66.5
September
91.3
83.9
68.1
October
96.1
79.3
74
November
112
85.8
87
December
113.6
93.9
87.9
January
113.7
105.7
95.8
February
120.23
113.4
107.1
March

99.5
100.1
99.5
                         Source: PHD Research Bureau, compiled from Union Government Accounts, Government of India
             Note: * Data pertains to the end of the respective month. *indicates data at the end of respective financial year
                         and are % of actuals to revised estimates

The government’s market borrowing stands at 74% of the actuals to budget estimates at the end of August 2018 as compared with 87% of the actuals to budget estimates at the end of August 2017. The domestic financing stands at 94% of the actuals to budget estimates at the end of August 2018 as compared to 98% of the actuals to budget estimates at the end of August 2017. The external financing of the government stands at (-)139% of the actuals to budget estimates at the end of August 2018 as against 32% of the actuals to budget estimates at the end of August 2017. The total financing of the central government stands at 95% of the actuals to budget estimates at the end of August 2018 as against 96% of the actuals to budget estimates at the end of August 2017.

Sources of financing the deficit                                                                                  (%)
                                Source: PHD Research Bureau, compiled from Union Government Accounts, Government of India
                               Note: Data pertains to the end of August 2018 vis-à-vis August 2017

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