DelhiDesk The Controller General of Accounts (CAG) has reported that India’s fiscal deficit for the financial year 2023 stood at 6.4% of GDP, in line with the target set by the Central Government. The government had set a target of Rs 16.61 lakh crore for the fiscal deficit, which was later increased. However, the country’s economy is expected to grow faster than budgeted, which helped to keep the fiscal deficit as a percentage of GDP at 6.4%. The government has found some disappointment on the disinvestment front, having set a target of getting Rs 60 thousand crore through disinvestment, but only earning Rs 46 thousand 35 crore in the financial year 2023.
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Here is the news bullets sorted by DelhiBreakings.com team.
– India’s fiscal deficit to come down to 6.4% of GDP in FY23
– Target set by Central Government in accordance with financial year 2023
– CAG report released on May 31, 2023
– Fiscal deficit of central government stood at Rs 17.33 lakh crore in FY23
– Absolute terms fell short by Rs 22 thousand 188 crore from revised target
– Net tax revenue of government in FY23 was 0.5% of estimates
– Non-tax revenue was 9.3% more than estimates
– Government set target of getting Rs 60 thousand crore through disinvestment, earned only Rs 46 thousand 35 crore
– Finance Minister set target of limiting fiscal deficit to 5.9% of GDP in 2023-24
– Story first published on May 31, 2023 at 18:40 [IST]
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