Government meets 2017-18 fiscal deficit target
New Delhi, May 31: The Central government broadly met its revised fiscal deficit target of 3.5 per cent for financial year 2017-18, official data showed here on Thursday.
According to the figures released by the Controller General of Accounts (CGA), fiscal deficit -- the difference between revenue and expenditure -- for the last financial year stood at 3.53 per cent of the country's GDP.
As per the provisional CGA data, the deficit reached Rs 5.91 lakh crore as against the revised estimates of Rs 5.94 lakh crore.
In budget 2018-19, Finance Minister Arun Jaitley revised the fiscal deficit target to 3.5 per cent from 3.2 per cent.
Besides, the data showed that the exchequer's total receipts during the fiscal under review yielded Rs 15.51 lakh crore, or 95.6 per cent of the estimates.
In addition, the total expenditure during the April-March 2017-18 period was Rs 21.42 lakh crore, or 96.6 per cent of the entire fiscal's estimate.
"The seasonal trend of revenue receipts out pacing revenue expenditure in March 2018 and a reversal in certain loans that had been extended previously, led to the total fiscal deficit for FY2018 printing marginally lower than the revised estimate," Aditi Nayar, Principal Economist, ICRA was quoted as saying in a statement.
"However, the revenue deficit for FY2018 has modestly exceeded the revised level."
On a monthly basis, the fiscal deficit in April 2018 touched Rs 1.51 lakh crore or 24.3 per cent of Budget estimates for 2018-19.
The CGA figures showed that the 2018-19 deficit has been pegged at Rs 6.24 lakh crore.
The total receipts during the month under review was Rs 71,450 crore, or 3.9 per cent of the estimates, whereas the total expenditure was Rs 2.23 lakh crore, or 9.1 per cent of the entire fiscal's estimate.
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Belagavi youth’s murder case projected as road accident, cracked in Uttara Kannada; Three arrested
Karwar: Uttara Kannada police have cracked a murder case in which a Belagavi youth was killed and his body burnt inside a car to make it appear like a road accident.
Addressing a press meet in the city, Superintendent of Police Deepan M.N. said three accused from Old Hubballi have been arrested in connection with the case. The crime was a pre-planned act driven by personal enmity, he said.
The case came to light on April 8 morning when a car (KA-04/MJ-8996) was found completely burnt in a roadside ditch near Talekumbri bus stand in Yellapur. Only charred human remains were found inside the vehicle. Initially, it was suspected to be an accident caused by overspeeding, and a case was registered at Yellapur police station based on a complaint filed by the deceased’s father, Jagannath Dhapale.
However, the father later expressed suspicion that his son’s death was not accidental, prompting a detailed investigation.
Taking the matter seriously, two special teams were formed under the leadership of Yellapur Inspector Ramesh Hanapur. On analysing technical evidence and CCTV footage, police found that it was a planned murder.
The accused have been identified as Abdul Raheem Basheer Ahmed Mujawar (32), Maulasab Bavahan Wada (36) and Dadapeer alias Aftab Mehboob Saab Balasangi (22), all chicken traders from Old Hubballi.
Police have seized the car used in the crime along with two scooters. The accused have been remanded to judicial custody.
Investigations revealed that the accused killed Nitesh Dhapale due to personal enmity and later set the car on fire along with the body to project it as an accident.
SP Deepan M.N. appreciated the efforts of Inspector Ramesh Hanapur, PSIs Rajashekhar Vandali and Siddappa Gudi, and the entire team for solving the complex case.
