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Economic Buzz: UK Budget Deficit Exceeds Estimate In FY24

23-Apr-24 12:36 Hrs IST

The UK public sector net borrowing declined in the financial year ending March but it remained well above the official estimate, data from the Office for National Statistics showed on Tuesday.

In the financial year ending March, provisionally estimated borrowing was GBP 120.7 billion, which was GBP 7.6 billion less than in the same period last year. However, it was GBP 6.6 billion more than forecast by the Office for Budget Responsibility.

At the end of March, public sector net debt excluding public sector banks was estimated at 98.3 percent of GDP. This was 2.6 percentage points more than at the end of March 2023.

In March alone, net borrowing declined GBP 4.7 billion from the last year to GBP 11.9 billion. The expected level was GBP 8.9 billion.

Government receipts grew by GBP 6.6 billion to GBP 90.6 billion in March. Meanwhile, government expenditure declined by GBP 0.4 billion to GBP 102.5 billion.

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Sr No	Start Date	Department	Tender Details	Status
1	22-11-2023	Compliance	Procurement of AML/PML software Solution - VC Meeting Link for opening of Tender Box on 22/11/2023 at 4.30 pm	Active upto 22/11/2023 end of the day
2	16-10-2023	Compliance	RFP for Procurement of AML/PML software solution
	06-11-2023	Compliance	A. Addendum - Extension Period for procurement of AML/PML sofware solution
3	16-08-2023	IT	RFP for Procurement of Firewall
			A. General Information
			B. Technical Bid
			C. Financial Bid
			D. Extension of RFP
4	12-07-2023	ADMIN	RFP for Premises on Lease for Ahmedabad Branch
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
5	07-07-2023	CS	RFP for Secretarial Audit
6	26-06-2023	IT	RFP for AMC of Online UPS system installed at IFINs Branch office	Closed
			A. General Information
			B. Technical Bid
			C. Financial Bid
7	16-06-2023	IT	E-tender for engagement of annual system audit and cyber security audit agency	Closed
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8	15-06-2023	IT	RFP for AMC of 30KVA Online UPS system	Closed
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			B. Technical Bid
			C. Financial Bid
9	30-05-2023	ADMIN	RFP for Premises on Lease for Ahmedabad Branch	Cancelled
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
			E. Extension of RFP
			F. Closure of RFP
10	24-05-2023	ADMIN	RFP for Premises on Lease for Salem Branch	Closed
			A. Newspaper Aricle
			B. General Information
			C. Technical Bid
			D. Financial Bid
11	24-04-2023	IA	Extension Of RFP iCOM IA for FY 2023-2024	Closed
12	25-04-2023	CS	Extension Of RFP for Seeking Quotations for Secretarial Audit Of IFIN Group for FY 2022-2023	Cancelled
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13	02-05-2023	IA	RFP For Appointment Of Internal Auditor for July 2023 - March 2024	Closed
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15	24-04-2023	CS	RFP PCS Empannelment for ROC filing 2022-23	Closed
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17	14-03-2023	IA	RFP for appointment of internal auditor in the iCOM	Closed
18	25-04-2023	CS	RFP For Secretarial Audit 22-23	Closed