India’s fiscal deficit widens to ₹11.91 lakh crore, 67.8% on revised FY23 target

India’s fiscal deficit for April to January of the current financial year came to 11.91 lakh crore or 67.8 per cent of the revised annual estimate, according to government data.

The fiscal deficit in the corresponding period of the previous financial year was 58.9 per cent of that year’s target.

Center revises upward its fiscal deficit target for 2022-23 in Budget 2023 17.55 lakh crore to 16.61 lakh crores.

The total receipts for the period April-January stood at 19.77 lakh crore, which is 81.7 per cent of the Revised FY23 Budget Estimate. This is 81.3 per cent of the revised estimate.

The overall expenditure in this period came to 31.68 lakh crore, which is 75.7 per cent of the revised budget target for this financial year.

Net tax revenue for the 10-month period ending January 2023, stood at 16.89 lakh crore, which is 80.9 per cent of the target for the entire financial year.

stood on tax revenue 16.89 lakh crore, and non-tax revenue came 2.31 lakh, which is 80.9 per cent and 88.2 per cent of the revised estimates.

(This is a developing story, please watch for more details.)

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