According to the latest information on Central Government finances for 2007-08 (April-November), key deficit indicators, viz., revenue deficit and GFD, were placed lower than those in the corresponding period of the previous year, both in absolute terms and per cent of the budget estimates.
Apart from the lower revenue deficit, contraction in defence capital outlay also moderated the fiscal deficit. There was a primary surplus of Rs. 7,374 crore during April-November 2007 as compared with a budgeted surplus of Rs. 8,047 crore.
Gross and net market borrowings (including 364-day Treasury Bills) of the Central Government during 2007-08 (up to January 25, 2008) were Rs.1,73,429 crore and Rs.1,03,092 crore, respectively, accounting for 91.8 per cent and 94.1 per cent of the estimated borrowings for the year.
During 2007-08 (up to January 25, 2008), the States raised market loans amounting to Rs.47,449 crore through auctions, as compared with Rs. 14,204 crore during the corresponding period of the previous year.
Source: Business Standard
