Fiscal deficit fy23 – This is last 9 months income and expenditure..
Fiscal deficit FY23: The Center seeks to reduce the fiscal deficit to Rs 16.61 crore crore (6.4% of GDP) during the current financial year. Due to rising inflation, the corona crisis, and subsidies, it was necessary to spend heavily on government programs. According to figures released by Controller General of Accounts, the fiscal deficit between April-December has risen to 9.93 lakh crore. The data showed that this is 59.8 per cent of the predetermined target.
Notable is the fact that the deficit in the first nine months was only 50.4 percent, compared to the target. Economists believe that the fiscal deficit target will be achieved by the end this year. Although Union Finance Minister Nirmala Sitharaman will present tomorrow’s budget to Parliament, she believes that the fiscal deficit target may be 5.9 percent of GDP for next year.
It is amazing how much income there is. According to the center, the net tax income for the past nine months was 15.55 lakh crores. This figure is 80.4 percent higher than the total for the whole financial year. The total revenue for April-December was Rs 17.69 million crore, which includes non-tax revenue. It announced that disinvestment had brought in more than 31 000 crores. This means that, despite the target being 65 thousand crores, only 48 percent was achieved.
The government claims that more than 71% of the budget estimate for this year (28.18 million crores) was spent up to December. It stated that capital expenditures between April and December were approximately Rs 5 lakh crore (65.4 percent of the annual estimate), compared to Rs 3.9 lakh crore one year ago. The government market borrowings rose to 8.85 million crore rupees in the past nine months.