New Delhi, Dec 31 (PTI) The finance ministry Monday said the government is closely monitoring the macroeconomic conditions to ensure that the fiscal deficit remains within the target of 3.3 per cent of the GDP for 2018-19. Also Read - GGC vs BDH Dream11 Team Prediction Bangladesh T20 Match 13: Captain, Vice-captain, Fantasy Playing Tips And Probable XIs For Today's Gazi Group Chattogram vs Beximco Dhaka T20 Match at Sher-e-Bangla National Stadium, Mirpur 1 PM IST December 6 Sunday
It has directed ministries and departments to meet their additional requirements of funds from savings and keep their expenditure within the amount earmarked in the Budget for 2018-19, according to the statement on half-yearly review of the trends in receipts and expenditure. Also Read - Farmers' Protest: 5th Round of Talks Remain Inconclusive, Next Meet on Dec 9; Bharat Bandh on Dec 8 | Top Points
The ministry further said the efforts were being made to achieve the target for non-debt receipts as well as tax receipts. Also Read - Times Group to Shut Down Pune Mirror, Mumbai Mirror To Be Relaunched as Weekly
“…the macro-economic condition in the country is being closely monitored by the government to keep fiscal indicators within the budgeted targets,” said the statement regarding directives issued under the Fiscal Responsibility and Budget Management Act, 2003.
Referring to the deviations, it said: “Non-debt receipts have marginally deviated from their mid-year benchmark of 40 per cent of Budget Estimates (BE). Total expenditure in first half 2018-19 is 53.4 per cent of BE which is 0.1 per cent lower than corresponding period and 2.7 per cent higher than five years’ moving average.” Net tax revenue in first half of 2018-19 is 39.4 per cent of BE but in comparison to past trend, it is 4.8 per cent below corresponding period and 0.4 per cent above five years’ moving average, it said.
This is published unedited from the PTI feed.