The fiscal deficit till October, which was 60.9 per cent of the budgeted Rs 1,51,144 crore (Rs 1511.44 billion) for the entire year, works out to 2.6 per cent of GDP.
According to figures released by Controller General of Accounts, the fiscal deficit at Rs 92,068 crore till October was almost 50 per cent higher than Rs 62,135 crore (Rs 621.35 billion) in the same period last year.
The government had to raise Rs 76,464 crore (Rs 764.64 billion) from the market to bridge the fiscal gap till October. The centre estimates market borrowing to be Rs 1,10,291 crore (Rs 1102.91 billion) for 2005-06.
Revenue deficit was at Rs 70,284 crore (Rs 702.84 billion), which is 73.7 per cent of the budget estimate of Rs 95,312 crore (Rs 953.12 billion) for 2005-06.
Expenditures were relatively higher at Rs 2,52,358 crore (Rs 2523.58 billion) till October but receipts also went up to Rs 1,60,290 crore (Rs 1602.90 billion).
Of the total receipts, revenue earnings were Rs 1,54,909 crore (Rs 1549.09 billion) or 44.1 per cent of the budgeted Rs 3,51,200 crore (Rs 3512 billion).
Tax collections were up by 24 per cent at Rs 1,16,297 crore (Rs 1162.97 billion) till October and accounted for 42.5 per cent of the budget estimate of Rs 2,73,466 crore (Rs 2734.66 billion).
On the spending side, non-plan expenditure was at Rs 1,82,291 crore (Rs 1822.91 billion) or 49.2 per cent of budgeted Rs 3,70,847 crore (Rs 3708.47 billion).
Interest payments alone accounted for Rs 63,243 crore (Rs 632.43 billion) of the total non-plan spends. The government has estimated an outgo of Rs 1,33,945 crore (Rs 1339.45 billion) in interest payments for 2005-06.
Plan expenditure stood at Rs 70,067 crore (Rs 700.67 billion) till October, which was 48.8 per cent of the budgeted Rs 1,43,497 crore (Rs 1434.97 billlion) for 2005-06.