The Union government's fiscal deficit shot up by about 31 per cent to Rs 54,517 crore (Rs 545.17 billion) in the first quarter of this fiscal due to higher expenditure.
However, buoyant tax collections kept revenue deficit marginally higher at Rs 47,311 crore (Rs 473.11 billion) in Apri-June this fiscal as compared to Rs 46,394 crore (Rs 463.94 billion) a year-ago period, according to the figures of the Controller General of Accounts.
Revenue deficit till June worked out to 49.6 per cent of the budgeted Rs 95,312 crore (Rs 953.12 billion) for 2005-06, while fiscal deficit amounted 36.1 per cent of the Rs 1,51,144 crore (Rs 1511.44 billion) estimated for the entire fiscal.
Total receipts amounted to Rs 39,067 crore (Rs 390.67 billion), which was 10.8 per cent of the budgeted Rs 3,63,200 crore (Rs 3632 billion) for the entire fiscal.
Tax collections alone amounted to Rs 31,668 crore (Rs 316.68 billion) during April-June this year, which is 30 per cent higher than Rs 24,306 crore (Rs 243.06 billion) in the year-ago period.
As a percentage of budget target, the tax mop up was 11.6 per cent during the first quarter of this fiscal. Last year, the Centre's revenue collection till June was 10.4 per cent of the budgeted estimate.
On the spending side, total expenditure shot up to Rs 93,584 crore (Rs 935.84 billion) in the first three months of fiscal, which was 18.2 per cent of the budgeted Rs 5,14,344 crore (Rs 5143.44 billion).
Total non-plan expenditure stood at Rs 66,656 crore (Rs 666.56 billion) in the first quarter of this year, which was 20.1 per cent of the budgeted Rs 3,32,239 crore (Rs 3322.39 billion) for 2005-06.
Interest payment alone stood at Rs 24,684 crore (Rs 246.84 billion) in April-June this year, which was 19.1 per cent of the Rs 1,29,500 crore (Rs 1295 billion) estimated for the entire fiscal.
Plan spendings amounted to Rs 23,035 crore (Rs 230.35 billion) during the first quarter of this year, which was 15.8 per cent of the budgeted Rs 1,45,590 crore (Rs 1455.9 billion) for 2005-06.
Market borrowings amounted to mere Rs 6,320 crore (Rs 63.2 billion) in the first three months against the budgeted Rs 90,365 crore (Rs 903.65 billion) for the entire financial year.