{"id":3136,"date":"2014-12-11T11:12:21","date_gmt":"2014-12-11T05:42:21","guid":{"rendered":"http:\/\/teekhapan.wordpress.com\/?p=3136"},"modified":"2014-12-11T11:12:21","modified_gmt":"2014-12-11T05:42:21","slug":"as-tax-collections-slow-down-govt-fiscal-deficit-shoots-to-its-highest-level-in-16-years","status":"publish","type":"post","link":"https:\/\/vivekkaul.com\/2014\/12\/11\/as-tax-collections-slow-down-govt-fiscal-deficit-shoots-to-its-highest-level-in-16-years\/","title":{"rendered":"As tax collections slow down, govt fiscal deficit shoots to its highest level in 16 years"},"content":{"rendered":"
<\/a>Vivek Kaul <\/span><\/span><\/p>\n The Controller General of Accounts <\/span><\/span><\/a><\/span><\/span><\/span>declares the fiscal deficit number at the end of every month. The cycle works with a delay of month. So, at the end of November 2014, the fiscal deficit for the first seven months of the financial year (April to October 2014) was declared.
\nThe fiscal deficit for this period stood at a rather worrying 89.6% of the annual target of Rs <\/span><\/span>5,31,177<\/span><\/span><\/span> crore. Fiscal deficit is the difference between what a government earns and what it spends.
\nOne reason the fiscal deficit is number is so high is because the government’s expenditure is spread all through the year, whereas it earns a substantial part of its income only towards the end of the year. But even keeping that point in mind, the fiscal deficit for the first seven months of this financial year is substantially high than it usually has been in the years gone by.
\nFor the period April to October 2013, the fiscal deficit had stood at 84.4% of the annual target for that year. In fact, the accompanying table shows us that the fiscal deficit for the first seven months of this financial year has been the highest over the last sixteen years.\u00a0<\/span><\/span><\/p>\n