India's fiscal deficit reaches 79% of Budget Estimates in October

India's fiscal deficit reached 79.3% of the budget estimates at the end of October 2016. 

Data published by Controller General of Accounts showed that fiscal deficit in October was negative Rs 24,481 crore, compared to positive Rs 32683 crore a year ago same month.  

Year-to-date, the fiscal deficit stood at Rs 4,23,507 crore, a rise of 2.81% from Rs 4,11,246 crore in the corresponding period of the previous year. 

Fiscal deficit during the same period of last year stood at 74%. 

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 1,31,065 crore in October 2016 - totaling Rs 6,97,988 crore - 50.7% of BE. 

On the other hand, total expenditure of India stood at Rs 1,23,115 crore in October - taking it to 58.2% of BE to Rs 1150843 crore.