The Period of April-July 2009 saw a fiscal deficit of Rs. 1.55 Lakh crores. This is about 39.5% of the target for the full year. At this rate we will comfortably burst the full year target. Considering the monsoon failure, it is more than likely we will indeed go past the target. However, there is a silver lining, though one should not react to one data point very quickly. The addition to fiscal deficit in July was about 0.31 Lakh crores. This does show that the deficit was controlled better in July. Why was it so? We need more data to be able to see how this happened and whether this is sustainable. The detailed data is yet to be released by the govt.
More details on release of detailed data
Tuesday, September 1, 2009
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