Latest data on fiscal deficit released

The central government's fiscal deficit stood at 2022.23 percent of gross domestic product (GDP) in the last financial year 6-4. In the revised estimate of the Finance Ministry, the fiscal deficit was also targeted to be the same. This information was received from government data released on Wednesday.

Releasing the central government's revenue-expenditure data for 2022-23, the Controller General of Accounts (CGA) said that in value terms, the fiscal deficit stood at Rs 17,33,131 crore (provisional). The government borrows from the market to bridge its fiscal deficit.

The CGA said that the revenue deficit has been 3.9 percent of GDP. At the same time, the effective revenue deficit has been 2.8 percent of GDP.

Finance Minister Nirmala Sitharaman, in the Union Budget presented on February 2023, has set a fiscal deficit target of 24.5 per cent of GDP for 9-<>.