India's fiscal deficit for the past financial year ended March totalled Rs 1,44,647 crore (Rs 1,446.47 billion), representing 99.4 per cent of the revised estimate of Rs 1,45,466 crore (Rs 1,454.66 billion) for the fiscal year, provisional data released on Tuesday showed.   

For the month of April, the fiscal deficit stood at Rs 17,140 crore (Rs 171.4 billion), which is 11.2 per cent of the budgeted Rs 1,53,637 crore (Rs 1,536.37 billion) for the entire 2003-04.

During 2002-03, the fiscal deficit of the Centre was in control mainly due to a comparatively higher receipts, even as expenditure shot up.

Total receipts stood at Rs 2,68,317 crore (Rs 2,683.17 billion), which is 103.8 per cent of the revised estimate of Rs 2,58,547 crore (Rs 2,585.47 billion).

Net tax revenue stood at Rs 1,58,311 crore (Rs 1,583.11 billion), which was 96.4 per cent of the revised estimate of Rs 1,64,177 crore (Rs 1,641.77 billion) for the entire 2002-03.

Interestingly, the loan recovery improved to Rs 34,282 crore (Rs 342.82 billion), which was 187.8 per cent of the revised estimate of Rs 18,251 crore (Rs 182.51 billion) for the whole year.

Total expenditure bloated to Rs 4,12,964 crore (Rs 4,129.64 billion), which was 102.2 per cent of the revised estimate of Rs 4,04,013 crore (Rs 4,040.13 billion) for 2002-03.

The outgo towards interest payment was restricted to Rs 1,15,630 crore (Rs 1,156.30 billion) as compared to the revised estimate of Rs 1,15,663 crore (Rs 1,156.63 billion) for 2002-03.

However, the government could not rein in the revenue deficit, which stood at Rs 1,06,863 crore (Rs 1,068.63 billion), which was 102.1 per cent of the revised estimate of Rs 1,04,712 crore (Rs 1,047.12 billion) for the whole year.

Market borrowings stood at Rs 1,12,048 crore (Rs 1,120.48 billion) in 2002-03, which was 99 per cent of the revised estimate of Rs 1,12,865 crore (Rs 1,128.65 billion).

During the first month of the current fiscal, the total expenditure stood at Rs 19,914 crore (Rs 199.14 billion), which was 4.5 per cent of the budgeted Rs 4,38,795 crore (Rs 4,387.95 billion) for the whole year.

Total receipts was at Rs 2,774 crore (Rs 27.74 billion), representing a mere one per cent of the budgeted Rs 2,85,158 crore (Rs 2,851.58 billion) for the whole financial year.