Centre's revenue receipts rise just 5% to Rs 5.7 trillion in June quarter

April-June fiscal deficit at 21.2% of Budget Estimates

Amid the mounting burden of subsidies, the Centre’s revenue receipts rose just 5 per cent to Rs 5.7 trillion in the June quarter of FY23 as the surplus transferred by the Reserve Bank of India (RBI) to the Union government fell and the collection of Union excise duty and customs duty contracted during the period.

The data released by the Controller General of Accounts (CGA) on Friday showed the Centre’s fiscal deficit for the first quarter of FY23 (April-June) came in at 21.2 per cent of the full-year target on the back of strong capital expenditure and weak revenue receipts. The