Fiscal deficit crosses 27% of target

Fiscal deficit of the government shot up to Rs 90,758 crore (Rs 907.58 billion) for the first two months of the current fiscal, already 27.3 per cent of the Budget estimate.

The Budget estimate for the fiscal deficit in the year 2009-10 is Rs 3,32,835 crore (Rs 3,328.35 billion). Last year 2008-09, the first two months of the fiscal had accounted for 54.9 per cent of the year's Budget estimate.

Fiscal deficit, the difference between revenue, including borrowings, and expenditure, had touched 16 per cent of the target in the very first month (April) itself. The deficit for the month stood at Rs 54,100 crore (Rs 541 billion).

Fiscal deficit was projected to be 5.5 per cent of GDP in the Interim Budget for 2009-10.

Revenue deficit rose to Rs 80,963 crore (Rs 809.63 billion), which is 33.9 per cent of the full year's estimate of Rs 2,38,534 crore (Rs 2,385.34 billion).