Fiscal deficit: Government spending picks up in October

The Centre’s budget spending in October rose 9.5% on year, after 26% decline seen in September and the budget estimate of 13.2% annual spending growth for FY21.

The capex in October at Rs 31,519 crore was up 130% on year even though the April-October data showed a decline of 2%. With net tax revenue declining by about 16% on year in April-October, analysts see fiscal deficit more than doubling from the budgeted level of Rs 8 lakh crore for FY21. The April-October fiscal deficit was 119.7% of the FY21 target.

 

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