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Wednesday, 01 February 2012 03:41
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New Delhi. More evidence about the tight fiscal situation emerged on Tuesday as data showed the deficit between April and December had - at Rs 3.81 lakh crore - reached 92.3% of the 2011-12 estimate. It stood at 44.9% of the 2010-11 targets in the corresponding period of the previous fiscal year.
Tuesday's data, released by the Controller General of Accounts, showed that the deficit situation in December was the highest since the same period in 2008 when it stood at 163.8% of the full-year target, largely due to the fiscal stimulus provided by the government to boost the economy.
Sluggish tax revenues, rising spending commitments and subsidies have hurt the government's fiscal situation. Volatile market conditions have dashed hopes of raising Rs 40,000 crore from stake sales in state-run companies.
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