Last Updated: August 31, 2022, 16:50 IST
India’s fiscal deficit hit 20.5 per cent of the full financial year 2022-23 target till the end of July. It is lower than the 21.3 per cent recorded in the corresponding period last year (April-July 2021). In the absolute terms, the fiscal deficit stood at Rs 3.41 lakh crore during April-July 2022, according to the latest official data.
For the full financial year 2022-23, the fiscal deficit (which is the difference between the government’s total expenditure and revenue) is pegged at Rs 16.6 lakh crore or 6.4 per cent of the GDP. It had stood at 6.71 per cent in the last financial year.
According to the latest data from the Controller General of Accounts (CGA) released on Wednesday, the government’s total expenditure during April-July 2022 stood at Rs 11.26 lakh crore, which is 28.6 per cent of the corresponding BE 2022-23. It had stood at 28.8 per cent in the year-ago period.
India’s total receipts during the April-July 2022 period stood at 7.86 lakh crore, which is 34.4 per cent of the total budget estimate for FY23. The receipts in the corresponding period last year was at 29.9 per cent of that year’s BE.