India's fiscal deficit crossed 85.8% of the budget estimates in November

In the month of November 2016,  the fiscal deficit reached at Rs 34,489 crore compared to Rs 72277 crore in the similar month of the previous year, as per data published by Controller General of Accounts.

Till date, the fiscal deficit was at Rs 4,57,996  crore, a decline of 5.27% against Rs 4,83,523  crore in the corresponding period of the previous year.

With this the fiscal deficit reached 85.8% of Budget Estimates (BE) target in 2016-17. During the same period last year, the fiscal deficit crossed 87% of the BE.

A fiscal deficit occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings.

The country's revenue receipts stood at Rs 98,135  crore in November 2016 - totaling Rs 7,96,123  crore - 57.4% of BE.

On the other hand, total expenditure of India stood at Rs 1,35,838  crore in November- taking it to 65% of BE to Rs 12,86,681  crore.

Meanwhile, revenue deficit at Rs 3,48,211 crore and fiscal defict at Rs 4,57,996 crore have reached 98.4% and 464% of the BE so far.