The Congress-led UPA government failed to meet its both the revised estimate and Budget estimate targets for fiscal deficit for the first 11 months of current financial year, fresh official data released by the Controller General of Accounts (CGA) revealed.

According to newly released data, the difference between the government's revenue and expenditure in the first eleven month of 2013-14 touched 114 per cent of its revised target of Rs 5.24 lakh crore.

Fiscal deficit at the end of February was recorded at around Rs 6 lakh crore, which is considerably higher than the government's budget and revised estimates of Rs 5.42 lakh crore and Rs 5.24 lakh crore, respectively.

It means that the government now needs a surplus of nearly Rs 75,000 crore in March in order to meet its revised fiscal deficit estimate for the current financial year. The month of March is expected to report some fiscal surplus, thanks to advance tax payments and higher pace of disinvestment.

The fiscal deficit figure represents 5.3 per cent of the country's gross domestic product (GDP). It may be noted here that Union Finance Minister P. Chidambaram, in the interim Budget, had mentioned a revised estimate for fiscal deficit to 4.6 per cent of the GDP against the Budget estimate of 4.8 per cent.

On Monday this week, Mr. Chidambaram claimed the fiscal deficit at 4.6 per cent of GDP by the end of March 31, 2014.