Infrastructure Growth Slows in August to 9-Month Low at 3.3%
Image Courtesy: NDTV
New Delhi: The output of eight core infrastructure sectors grew 3.3% in August -- the lowest in nine months -- against 12.2% in the year-ago period, according to official data released on Friday.
The previous low was in November 2021 at 3.2%.
The production growth of eight infrastructure sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 9.8% during April-August this fiscal, compared with19.4 % a year ago.
Fiscal deficit touches 32.6% of annual target till August
The central government's fiscal deficit touched 32.6% of the annual target in the current financial year till August against 31.1% recorded a year ago, according to official data released on Friday.
In actual terms, the fiscal deficit -- the difference between expenditure and revenue --- was Rs 5,41,601 crore during the April-August period of this financial year.
Fiscal deficit is an indicator of the government's borrowings from the market.
As per the data released by the Controller General of Accounts (CGA), the government's total receipts, including taxes, stood at Rs 8.48 lakh crore or 37.2% of the Budget Estimates (BE) for 2022-23.
During the year-ago period, the collection was 40.9% of BE 2021-22.
The tax revenue stood at about Rs 7 lakh crore or 36.2% of this year's BE.
The Central government's total expenditure was Rs 13.9 lakh crore or 35.2% of the BE 2022-23. It was 36.7% of BE 2021-22.
For 2022-23, the fiscal deficit of the government is estimated to be Rs 16.61 lakh crore or 6.4% of the GDP.
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