Riding on improved receipts, the Centre succeeded in containing fiscal deficit to Rs 43,467 crore (Rs 434.67 billion) in the first five months of this fiscal but expenditure rose marginally during the period.

Centre's fiscal deficit till August stood at 28.3 per cent of the budget estimate of Rs 1,53,637 crore (Rs 1,536.37 billion) for the whole of 2003-04, according to Controller General Accounts' figures.

During the same period the previous year, fiscal deficit was about 41 per cent of the budget estimate of that year.

Total receipts improved to Rs 1,01,472 crore (Rs 1,014.72 billion) during the first five months of this year, even as revenue receipts skid owing to sluggish net tax revenue collection.

Total receipts till August constituted 35.6 per cent of the budgeted Rs 2,85,158 crore (Rs 2,851.58 billion).

Revenue receipts stood at Rs 63,698 crore (Rs 636.98 billion), which was 25.1 per cent of the estimated Rs 2,53,935 crore (Rs 2,539.35 billion) for 2003-04, while it was 27.2 per cent of the budget estimate in the corresponding period of 2002-03.

Net tax revenue slowed down to Rs 39,238 crore during (Rs 392.38 billion) April-August, which was 21.3 per cent of Rs 1,84,169 crore (Rs 1,841.69 billion) estimated for this year.

With increase in non-plan expenditure, total expenditure rose to Rs 1,44,939 crore (Rs 1,449.39 billion), which was 33 per cent of the budget estimate of Rs 4,38,795 crore (Rs 4,387.95 billion) for 2003-04.

During the same period last fiscal, total expenditure was 32.3 per cent of the budget estimate for that year.