New Delhi: The Union government has crossed 50% of its budgeted target for capital expenditure so far in the ongoing financial year 2023-24. As per reports, the capital expenditure has crossed Rs 5-lakh-crore mark. It is reported that the government should be able to meet its stated fiscal deficit target of 5.9% of the gross domestic product.
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The Union government has set Rs 10 lakh crore target for the current fiscal. This is 36% higher than the capital expenditure for FY23.
According to data from the Controller General of Accounts, the government spent Rs 7.36 lakh crore last fiscal against a budgetary target of Rs 7.5 lakh crore. In the April-August 2023 period, it had spent 37.4% of the budgetary capex. Till August, revenue receipts added to Rs 10.13 lakh crore, or 39% of the budget target, and revenue expenditure had reached 37% of the budget estimates to around Rs 13 lakh crore.
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