Fiscal deficit at 59% of budget target as spending increases4 min read . Updated: 31 Dec 2022, 06:08 AM IST
The gap between the Union government’s revenue and expenditure at ₹9.78 trillion during the April-November period is 40.7% higher than the corresponding period of last year
New Delhi: The Centre’s fiscal deficit touched 59% of the budget target for 2022-23 in the first eight months, led by sharp growth in capital expenditure, moderate expansion in tax revenues, and higher transfers to states. While economists expect the fiscal deficit to overshoot the target in absolute terms in FY23 in view of the ₹3.26 trillion additional cash outgo towards fertilizer and food subsidies, the estimate of 6.4% of GDP may be met on account of higher-than-expected nominal GDP.
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