In first half of 2019-20, the fiscal deficit had amounted to 2.3pc of GDP or Rs995bn. — AFP/File
Amid a record Rs1.138 trillion fiscal deficit in half of this twelvemonththe government has called the inaugural meeting of the 10th National Finance Commission (NFC) on Feb 18 to review overall fiscal position of the centre and therefore the provinces.
The Ministry of Finance on Wednesday said the fiscal deficit as percentage of GDP stood at 2.5pc in half (July-December) of 2020-21. The country witnessed 2.7pc of fiscal deficit during a similar period in 2018-19 — the first year under the PTI government. However, in absolute numbers the deficit had amounted to Rs1.030tr.
In half 2019-20, the fiscal deficit had amounted to 2.3pc of GDP or Rs995bn.
The fiscal data released by the finance ministry put the whole revenue in 1/2 FY21 at Rs3.35tr, or 7.4pc of GDP, while tax revenues came in at Rs2.455tr, or 5.4pc of GDP. Non-tax revenue on the alternative hand amounted to Rs895bn or 2pc of GDP.
On the other hand, total expenditure in 6MFY21 amounted to Rs4.489tr, or 9.9pc of GDP. This included current expenditure of Rs4.029tr, or 8.8pc of GDP. Both current total expenditure and current expenditure were on top of last year even defence expenditure was under last year.
The mark-up payments in 6MFY21 amounted to Rs1.475tr against Rs1.28tr of same period last year. The defence expenditure this year amounted to Rs486bn compared to Rs530bn of comparable period last year. Development expenditure has also been lower this year at Rs414bn in first six months compared with Rs464bn of last year.


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