India fiscal deficit at 15 trillion Rupees which is 86.5 per cent of Revised annual target Of FY24

India Fiscal Deficit: The fiscal deficit during the first 11 months of the financial year 2023-24, from April to February, has been Rs 15.01 lakh crore, which is 86.5 percent of the target set for the entire year. During the same period of the last financial year 2022-23, the fiscal deficit was Rs 14.53 lakh crore.

The Controller General of Accounts (CGA) has released fiscal deficit data for April to February on Thursday, March 28, 2024. According to this data, the total expenditure of the Government of India in the current financial year till 29 February 2024 has been Rs 37.47 lakh crore, which was Rs 34.94 lakh crore in the same period last year. On the capital expenditure front, the government has spent Rs 8.05 lakh crore from April to February, which is 84.8 percent of the total target of Rs 10 lakh crore in 2023-24. Earlier during the financial year, the government had spent Rs 5.90 lakh crore on capital expenditure.

According to the data, the revenue received by the government through taxes during April to February has been Rs 18.5 lakh crore, which is 79.6 percent of the total target. Earlier, during the financial year from April to February, the total collection was Rs 17.32 lakh crore. The total receipts of the government during April to February have been Rs 22.5 lakh crore, which is 81.5 percent of the total target. During this period, the non-tax revenue of the government has been Rs 3.6 lakh crore, which is 95.9 percent of the total target. There has been a difference of Rs 7.32 lakh crore between the receipts and total expenditure of the government, which is 87 percent of the target for the entire year.

Presenting the interim budget on February 1, 2024, Finance Minister Nirmala Sitharaman said that the government has set a target of keeping the fiscal deficit at 5.8 percent of the GDP in 2023-24 and aims to reduce it to 5.1 percent during the next financial year 2024-25. aims at.

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