Thanks to a rise in tax revenue upon a low base, a surge in non-tax receipts attributable to the higher-than-expected surplus transfers from the RBI and economical spending, the Union government managed to contain its fiscal deficit in April-June quarter at 18.2% of the budget estimate (BE) for 2021-22. This is the lowest level the deficit remained in relation to the respective annual BE in the first quarter of a year in over a decade. The fiscal deficit was 83.2% of the corresponding annual target in Q1FY21 while it was 10.5% in Q1FY11.