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In actual terms, the fiscal deficit — the difference between expenditure and revenue — was Rs 7,58,137 crore during the April-October period of 2022-23.
The fiscal deficit of India for April-October touched 45.6 percent, or Rs 7.58 lakh crore of the full-year budget estimate, as per the official data released on Wednesday. In the corresponding period last year, the deficit was 36.3 percent of the budget estimates for FY 2021-22.
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A fiscal deficit is a difference between expenditure and revenue. According to the data published by the Controller General of Accounts (CGA), it was Rs 7,58,137 crore during the April-October period of FY 2022-23.
The Centre is targeting a fiscal deficit of Rs 16.61 lakh crore or 6.4 percent of the GDP, for FY 2022-23.
As per the data, total receipts stood at 13.86 lakh crore rupees, while the total expenditure in April-October was at Rs 21.44 lakh crore. They were 60.7 percent and 54.3 percent of this fiscal year's budget target.
Revenue receipts stood at 13.50 lakh crore rupees, of which tax revenue was 11.71 lakh crore rupees and non-tax revenue was 1.79 lakh crore rupees.
In the period of April-September, the fiscal deficit stood at 37.3 percent of the full-year target. It had widened to touch Rs 6.20 lakh crore.
In February this year, union finance minister Nirmala Sitharaman, while presenting the budget for 2022-23 set the fiscal deficit target at 6.4 percent of GDP for FY23 starting April, compared to 6.7 percent in the previous financial year.
But with more than half the financial year over already, the fiscal deficit remains under 50 percent of the Budget target for the full year.
(Edited by : Anushka Sharma)