Fiscal deficit narrows to 6.4% of GDP in FY23
The Centre's fiscal deficit narrowed to 6.4 per cent of the GDP in 2022-23 from 6.71 per cent in FY22, as anticipated by Finance Minister Nirmala Sitharaman in her Budget in February this year.
Fiscal deficit narrows to 6.4% of GDP in FY23
New Delhi: The Centre's fiscal deficit narrowed to 6.4 per cent of the GDP in 2022-23 from 6.71 per cent in FY22, as anticipated by Finance Minister Nirmala Sitharaman in her Budget in February this year.
In the Union Budget, the government aimed to further bring down the fiscal deficit -- a key indicator of borrowing -- during the current financial year 2023-24 to 5.9 per cent of the gross domestic product (GDP).
Unveiling the revenue-expenditure data of the Union government for 2022-23, the Controller General of Accounts (CGA) said the fiscal deficit in absolute terms was Rs17,33,131 crore (provisional), marginally down from the amount projected in the Revised Estimates (RE) in the Budget.
