Fiscal deficit in February at 82.8 per cent of full-year target: Government data
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The fiscal deficit in the corresponding period of FY 2021-22 stood at 82.7 per cent of the Revised Estimates (RE) for the full year. The government is estimated to have a deficit of Rs 17.55 lakh crore or 6.4 per cent of GDP in the financial year 2022-23.
The fiscal deficit of the central government reached 82.8 per cent of the full year’s target at the end of February. This information was given in the data released by the Controller General of Accounts (CGA) on Friday. The fiscal deficit or the difference between revenue collection and expenditure during April-February in the financial year 2022-23 stood at Rs 14.53 lakh crore. The fiscal deficit in the corresponding period of FY 2021-22 stood at 82.7 per cent of the Revised Estimates (RE) for the full year. The government is estimated to have a deficit of Rs 17.55 lakh crore or 6.4 per cent of GDP in the financial year 2022-23.
According to the CGA data, the net tax collection in the first 11 months of the current fiscal was Rs 17,32,193 crore, or 83 per cent of the revised estimate for 2022-23. This figure was 83.9 percent in the same period last year. The total expenditure of the government stood at Rs 34.93 lakh crore, of which Rs 29,03,363 crore was on the revenue account and Rs 5,90,227 crore on the capital account. Of the total revenue expenditure, Rs 7,98,957 crore was given towards interest payment and Rs 4,59,547 crore towards subsidy. Rating agency ICRA chief economist Aditi Nayar said the fiscal deficit for 2022-23 is not expected to exceed the revised target. The government aims to bring down the fiscal deficit below 4.5 per cent of GDP by 2025-26.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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