India Fiscal Deficit 2022-23 : The fiscal deficit of the country has increased to a great extent. The fiscal deficit of the central government has increased on an annual basis in the first half of the current financial year 2022-23, April-September 2022. Fiscal deficit has increased to Rs 6.20 lakh crore in 6 months. It is being told that this deficit is 37.3 percent of the year’s target.
see what the numbers are
The Controller General of Accounts has released the fiscal data on 31 October 2022 today. The fiscal deficit for April-September 2021 was 35 per cent of the FY22 target. The Center has set a fiscal deficit target of Rs 16.61 lakh crore or 6.4 per cent of GDP for the financial year 2023. Fiscal deficit refers to the market borrowing on the government.
3.52 lakh crore in the first quarter
It is to be known that in the first quarter of the financial year 2022-23 i.e. the period of April-June, the financial deficit of the central government was Rs 3.52 lakh crore. This was 21.2 per cent of the government’s full year target. There has been a decline in the government’s deficit in the month of June. On an annual basis, it had come down from Rs 1.51 lakh crore to Rs 1.48 lakh crore.
33 percent more than last year
The central government has recorded a fiscal deficit of Rs 78,248 crore in the month of September. It is 33 percent more than 1 year ago. Net tax revenue grew by 13 per cent year-on-year to Rs 3.12 lakh crore. Non-tax revenue grew by 248 per cent to Rs 40,796 crore. Total receipts have increased by 22 percent to Rs 3.55 lakh crore.