In May, the output of coal, crude oil, refinery products, fertiliser, cement and electricity rose by 25.1%, 4.6%, 16.7%, 22.8%, 26.3% and 22%, respectively
The fiscal deficit was at 8.2% of the Budget Estimate (RE) of 2021-22 during the corresponding period
New Delhi, NFAPost: The growth of eight core infrastructure sectors expanded by 18.1 per cent in May against 16.4 per cent in the year-ago period, according to official data released on Thursday.
The output of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity had expanded by 9.3% in April 2022, the data showed. In May, the output of coal, crude oil, refinery products, fertiliser, cement and electricity rose by 25.1%, 4.6%, 16.7 per cent, 22.8%, 26.3 per cent and 22%, respectively.
Growth rate in the production of natural gas and steel slowed down by 7% and 15% in the month under review as compared to 20.1% and 55.2%, respectively in May 2021.
Cumulatively, during April-May 2022-23, the output of these eight sectors declined to 13. 6% as compared to 36.3% during April-May 2021-22.
Fiscal deficit at 12.3%
The central government’s fiscal deficit at the end of May stood at 12.3% of the annual budget target for 2022-23, mainly due to higher expenditure, according to official data released on Thursday.
Fiscal deficit is the difference between total expenditure and revenue of the government. It is an indication of the total borrowings that are needed by the government.
The fiscal deficit was at 8.2% of the Budget Estimate (RE) of 2021-22 during the corresponding period.
In actual terms, the deficit was at Rs 2,03,921 crore at the end of May, as per the data released by the Controller General of Accounts (CGA). The country’s fiscal deficit is projected at 6.4% of the GDP for this fiscal ending March 2023 as against 6.71 per cent for the previous year.
As per the data, the total receipts of the government at the end of May was at Rs 3.81 lakh crore or 16.7% of the BE for 2022-23. The collection was about 18% of the BE of 2021-22 in the corresponding period last fiscal.
In May, the tax (net) revenue was at 15.9% of the BE of 2022-23. It was 15.1% of the BE 2021-22 in the year-ago period. In actual terms, the net tax revenue stood at Rs 3,07,589 crore during April-May 2022-23.
As per the data, the central government’s total expenditure at the end of May stood at Rs 5.85 lakh crore or 14.8 per cent of this year’s BE. It was 13.7 per cent of the BE in the corresponding period.
For 2022-23, the fiscal deficit of the government is estimated to be Rs 16,61,196 crore.
Agencies
