New Delhi. Though the Indian economy is moving ahead strongly, the country has incurred a deficit of Rs 7.51 lakh crore between April and October. This figure was given by the government on Friday. The National Statistical Office (NSO) said that the country's fiscal deficit was set at Rs 16.13 lakh crore for the current financial year, out of which 46.5 percent figure has been achieved in just 9 months.

The NSO said that the country's fiscal deficit between April and October was Rs 7.51 lakh crore, which was Rs 8.04 lakh crore in the same period last year. A fiscal deficit means that the country's expenditure is more than its total income. If there is a deficit of Rs 7.51 lakh crore, it means that the country has spent Rs 7.51 lakh crore more than its total income between April and October. This will affect the economy as well as the common man, because the government can take more steps to collect taxes to cover this deficit.

How much income and how much expenditure
According to the data released by NSO, the total expenditure of the country between April and October was Rs 24.74 lakh crore, which was Rs 23.94 lakh crore in the same period last year. At the same time, the total income of the country during this period was Rs 17.23 lakh crore, while in the same period last year, it was Rs 15.91 lakh crore. Capital expenditure in the current financial year was also Rs 4.67 lakh crore, which was Rs 5.47 lakh crore last year.

This loss to the government treasury has happened even though there has been a huge tax collection in the current financial year. The total tax
revenue during April-October was 20.33 lakh crores, which was 18.35 lakh crores in the same period last year. This includes collections made from direct tax i.e. income tax and indirect tax i.e. GST.

Which sector showed strength?
NSO has told which sector has shown the most strength in the second quarter of the current financial year. The manufacturing sector, which achieved the fastest growth in the first quarter, could achieve a growth rate of only 2.2 percent in the second quarter. The mining sector even went below zero and the growth rate was 0.1 percent below zero. During this period, the agriculture sector made a strong comeback and achieved a growth rate of 3.5 percent, which had remained below 2 percent for the last four quarters. The fastest growth was in the construction sector, which achieved a growth rate of 7.7 in the second quarter.