A deficit of understanding

The Centre fiscal deficit during April-September, at Rs 292,458 crore, is more than double the figure for the corresponding six months of 2010-11. That practically rules out meeting the budgeted target of Rs 412,817 crore, representing the gap between its total spending and revenues (including from non-debt capital sources such as disinvestment), for the entire current fiscal. The situation is worse with regard to the revenue deficit, which is a whopping 212 per cent higher than that in April-September 2010.

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