Fiscal deficit has come down by over 34 per cent to Rs 53,235 crore (Rs 532.35 billion) in the first half of 2004-05 mainly due to government's expenditure control measures and higher tax mop up.
Revenue deficit was at Rs 59,951 crore (Rs 599.51 billion) during the first half of this fiscal, which accounts for a whopping 78.7 per cent of the budget estimate of Rs 76,171 crore (Rs 761.71 billion), according to figures released by the Controller General of Accounts.
The fiscal deficit, which works out to be 1.7 per cent of the GDP, was 38.7 per cent of the budgeted Rs 1,37,407 crore (4.4 per cent of GDP) for 2004-05.
Centre's fiscal deficit during the first six months of 2004-05 at Rs 53,235 crore was much lower than Rs 81,014 crore (Rs 810.14 billion) in the year-ago period.
While receipts stood at Rs 1,42,338 crore (Rs 1423.38 billion), expenditure was reined in at Rs 1,95,573 crore (Rs 1955.73 billion).
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