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Government spends only a third of targeted capex in 1HFY22 Source: IRIS | 03 Dec, 2021, 01.41PM Rating: NAN / 5 stars. Comments  |  Post Comment Notice: Undefined variable: fileR in /me/beta.myiris.com/htdocs/newsCentre/bin/addLinksNew.php on line 17 Notice: Undefined variable: fileR in /me/beta.myiris.com/htdocs/newsCentre/bin/addLinksNew.php on line 142 Based on the monthly accounts of 18 states (accounting for ~87% of all states), total receipts of all states surged 21.4% YoY in 2QFY22, leading to growth of 24.8% YoY in 1HFY22 and spending grew relatively slower by 16.8% YoY last quarter, implying growth of 16.2% YoY in 1HFY22, stated Motilal Oswal Institutional Equities. Consequently, on an aggregate level, states' fiscal deficit stood at 40.2% of BE in 1HFY22 - this was lower than 55.6% of BE in 1HFY21. Combining the finances of states with those of the central government, the total receipts by the general government (GG) grew 29.4% YoY in 2QFY22 and spending grew 20% YoY in 2QFY22, after declining 11% YoY in 2QFY21, it said. While capex grew 52% YoY in 1HFY22 on a low base, it was just one-third of FY22BE in 1HFY22. Therefore, fiscal deficit of the GG was just 36.8% of 1HFY22 BEs vis-à-vis an all-time high of 89% in 1HFY21. Assuming 16% YoY growth in nominal GDP in 2FY22, the fiscal deficit stands at 8% of GDP in 1HFY22, lower than 15% of GDP in 1HFY21, the broking firm added. Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.  Post Comment Notice: Undefined index: dir in /me/beta.myiris.com/htdocs/newsCentre/comments.php on line 162 > Name Email Comment Security Code type    Notice: Undefined variable: captchacode in /me/beta.myiris.com/htdocs/newsCentre/comments.php on line 183 into this box

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