The biggest decline in the core sector in 9 months, this update on fiscal deficit
For information, let us tell you that this growth in the core sector is the lowest in the last nine months. The figure was 12.2 percent in the same period a year ago. The previous low was 3.2 percent in november 2021.
There are two new updates on the economic front. The output of the eight core sectors grew at a sluggish pace of 3.3 percent in August. At the same time, India's fiscal deficit in the April-August period stood at Rs 5.42 lakh crore, which was 32.6 percent of the full-year target.
This growth in the core sector is the lowest in the last nine months. The figure was 12.2 percent in the same period a year ago. The previous low was 3.2 percent in november 2021. The output of the eight core sectors grew by 9.8 percent in April-August this year from 19.4 percent in the same period a year ago. These eight sectors include coal, crude oil, natural gas, refinery products, fertilizers, steel, cement, and electricity.
Fiscal deficit refers to the position of the government's debt taken from the market. According to the data of the Controller General of Accounts (CGA), the total receipts of the government including taxes stood at Rs 8.48 lakh crore. This is 37.2 percent of the budgeted estimate for 2022-23.
The total receipts in the corresponding period of 2021-22 a year ago were 40.9 percent of the budgeted estimates. Tax revenue collection stood at Rs 7 lakh crore. It stood at 36.2 percent of the budgeted estimate for the current financial year. The total expenditure of the central government during April-August stood at Rs 13.9 lakh crore, which is 35.2 percent of the budgeted estimate. This was 36.7 percent in the same period of the last financial year 2021-22.
