The fiscal deficit till September was 55.5 per cent of the budgeted Rs 1,51,144 crore (Rs 1511.44 billion) for 2005-06.
The Centre also reined in revenue deficit to Rs 65,097 crore (Rs 650.97 billion) during April-September 2005-06 mainly due to a robust growth in tax collection while government controlled its spending, as per the figures collated by Controller General of Accounts.
However, the fiscal deficit at Rs 83,843 crore during first half of 2005-06 was much higher than Rs 53,235 crore (Rs 532.35 billion) during the same period last fiscal.
Revenue deficit in the first six months of this fiscal was also higher than Rs 59,951 crore (Rs 599.51 billion) during April-September 2004-05.
The fiscal deficit in the first half of 2005-06 works out to 2.38 per cent of GDP, while revenue deficit amounted to 1.8 per cent of GDP.
In its budget for 2005-06, Finance Minister P Chidambaram had set a fiscal deficit target of 4.3 per cent of GDP and revenue deficit of 2.7 per cent.
With relatively lower fiscal and revenue deficits, the Centre has kept its market borrowing within tolerable limits at Rs 85,813 crore (Rs 858.13 billion).
In its recently announced busy season credit policy, RBI had acknowledged centre's efforts to keep borrowings "consistent" with the budget targets.
The deficit was reined in mainly on account of a robust 24 per cent growth in tax revenues at Rs 96,249 crore (Rs 962.49 billion) till September.
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