Fiscal deficit, which was reined in during 2003-04, was relatively higher at Rs 25,998 crore (Rs 259.98 billion) in the first month of the new financial year.
The fiscal deficit in April 2004, which was 19.1 per cent of the budgeted Rs 1,36,452 crore (Rs 1,364.52 billion) for the entire financial year, was mainly on account of a meagre revenue collection of Rs 823 crore (Rs 8.23 billion) in the lean month.
The deficit was relatively lower at 11.2 per cent of the budgeted amount during April 2003, according to figures released by the Controller General of Accounts.
Although the Centre's gross tax collection was at Rs 4,461 crore (Rs 44.61 billion) during April, it had to assign Rs 5,729 crore (Rs 57.29 billion) to the states.
Total receipts in April this year amounted to Rs 4,279 crore (Rs 42.79 billion) or 1.3 per cent of the budgeted Rs 3,20,982 crore (Rs 3,209.82 billion) for the entire fiscal.
Total expenditure surged to Rs 30,277 crore (Rs 302.77 billion) during the month, which was 6.6 per cent of the budgeted Rs 4,57,434 crore (Rs 4,574.34 billion) for the entire fiscal.