New Delhi: The fiscal deficit of Union government has touched 39.3% of the full year target in the first half of the current financial year . It was at 37.3% in the year-ago period. Data released by the Controller General of Accounts (CGA) revealed this. Fiscal deficit is the gap between expenditure and revenue.
Fiscal deficit was at Rs 7.02 lakh crore at the end of September 2023. In the Union Budget, the government projected to bring down the fiscal deficit to 5.9% of the gross domestic product (GDP) in the current 2023-24 financial year. The fiscal deficit was 6.4% of the GDP in 2022-23 against the earlier estimate of 6.71%.
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The tax revenue was at Rs 11.60 lakh crore or 49.8% of the annual target. During April-September 2022-23, the net tax collection was 52.3% of that year’s annual Budget Estimate (BE). Centre’s total expenditure was Rs 21.19 lakh crore or 47.1% of BE of 2023-24, marginally higher than 46.2% of BE 2022-23.
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