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INDIA'S FISCAL DEFICIT DOWN BY 34% AT US$11.7 BLN IN H1.
NEW DELHI, Nov 1 Asia Pulse - The fiscal deficit has come down by over 34 per cent to Rs 532.35 billion (US$11.7 billion) in the first half of 2004-05, mainly due to government's expenditure control measures and higher tax mop up.
Revenue deficit was at Rs 599.51 billion during the first half of this fiscal, which accounts for a whopping 78.7 per cent of the budget estimate of Rs 761.71 billion, according to figures released by the Controller General of Accounts.
The fiscal deficit, which works out to be 1.7 per cent of the GDP, was 38.7 per cent of the budgeted Rs 1,374.07 billion (4.4 per cent of GDP) for 2004-05.
Centre's ...
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