Foreign reserves declined by $ 1.581 billion to $ 611.149 billion this week, while gold reserves declined by $ 449 million to $ 36.884 billion.
Foreign exchange reserves of $611.149 billion.
Foreign Exchange Reserves: The country’s foreign exchange reserves declined by $ 1.581 billion to $ 611.149 billion in the week ended July 23, 2021. The Reserve Bank of India gave this information on Friday. Foreign exchange reserves had risen by $ 835 million to touch an all-time high of $ 612.730 billion in the week ended July 16, 2021.
According to the weekly data of the Reserve Bank, the reason for the decline in foreign exchange reserves in the reporting week is due to reduction in foreign currency assets (FCA), which is a major component of the overall reserves. During this period, FCA declined by $ 1.12 billion to $ 567.628 billion. Foreign currency assets, expressed in dollar terms, also include the effect of an increase or decrease in the value of other foreign currencies such as the euro, pound and yen held in foreign exchange reserves.
Gold reserves fell by $ 449 million
According to the data, during this period, gold reserves fell by $ 449 million to $ 36884 billion. At the same time, the Special Drawing Rights (SDR) with the International Monetary Fund decreased by $ 3 million to $ 1.546 billion. The Reserve Bank said that during the week under review, India’s foreign exchange reserves with the IMF also declined by $ 9 million to $ 5.091 billion.
Fiscal deficit in June quarter at 18.2 per cent
Here, talk about the fiscal position of the government, a report has been issued by the CGA. According to the data released by the Controller General of Accounts (CGA), the fiscal deficit of the central government stood at Rs 2.74 lakh crore at the end of June this year. This is 18.2 per cent of the estimated budget deficit for the entire year (2021-22). At the end of June, 2020, the fiscal deficit had reached 83.2 percent of the budget estimates for the financial year 2020-21. In aggregate, this time the fiscal deficit at the end of June was Rs 2,74,245 crore.
Fiscal deficit is estimated to be 6.8 percent in the current financial year
The government estimates that the fiscal deficit at the end of the financial year 2021-22 will be Rs 15,06,812 crore or 6.8 per cent of the gross domestic product (GDP). In the year 2020-21, the fiscal deficit or the difference between expenditure and revenue was 9.3 percent of the gross domestic product (GDP). This is less than 9.5 per cent of the Revised Budget Estimate of the Budget presented in February, which is a result of the improvement in the fiscal position.
Receipts at 27.7 per cent of the estimate in the first quarter
According to the CGA data, the total receipts of the Center stood at Rs 5.47 lakh crore at the end of June, 2021, which is 27.7 percent of the estimates of total receipts in the budget for 2021-22. This includes tax revenue of Rs 4.12 lakh crore (net share of the Centre), non-tax revenue of Rs 1.27 lakh crore and non-debt capital receipts of Rs 7,402 crore. Of the non-debt capital revenue, Rs 3,406 crore is of debt recovery and Rs 3,996 crore of disinvestment proceeds. The receipts during the corresponding period of the last financial year (2020-21) were 6.8 per cent of the budget estimates.
Expenditure in the first quarter is 23.6% of the budget estimate
According to the CGA report, till June, the government transferred Rs 1,17,524 crore as share of taxes to the states. The total expenditure of the Center during this period stood at Rs 8.21 lakh crore (23.6 per cent of the budget estimates). Out of which Rs 7.10 lakh crore has been spent from revenue account and Rs 1.11 crore from capital account.
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