Higher tax refunds putting pressure on fiscal deficit: Jaitley
Finance Minister Arun Jaitley on Friday said increased tax refunds in the current financial year is leading to higher fiscal deficit, which neared 83 per cent of full year target in the April-September period.
“Higher tax refunds are getting reflected in fiscal deficit number. This year there were pending tax refunds estimated around Rs 1.20 lakh crore,” he told reporters here.
As per the official data, fiscal deficit has touched 82.6 per cent of budget estimates for 2014-15 to cross Rs 4.38 lakh crore at the end of September.