RS. 22 BILLION BUDGET SURPLUS: TREASURY
The Ministry of Finance and Mass Media announced a surplus of Rs. 21.9 billion in the primary balance of the government’s fiscal accounts for the first 10 months of 2017 – during the corresponding period of 2016, the primary balance was a negative 37 billion rupees.
The ministry’s press release attributed this achievement to the efficient management of state revenue and expenditure, while Treasury officials expressed that this is a sign of positive growth in the economy and would allow for managing debt repayment efficiently.
State revenue grew by 10.4 percent during the first 10 months of 2017 when compared to 2016 with tax revenue increasing by 14.2 percent and state expenditure growing by 9.5 percent during the same period.