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

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

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

The Centre made an upward revision in its fiscal deficit target for 2022-23 in the 2023 Budget to 17.55 lakh crore from 16.61 lakh crore.

The total receipts for the April-January period stood at 19.77 lakh crore, which is 81.7 per cent of the revised FY23 budget estimate. It is 81.3 per cent of the revised estimate. It was 18.72 lakh crore in the year ago period.

 The overall expenditure in the period came in at 31.68 lakh crore, which is 75.7 per cent  of this fiscal year’s revised budget target. It was 28.09 lakh crore in the year ago period.

The 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 entire fiscal year’s target.

 The non-tax revenues came in at 2.31 lakh, which is 80.9 per cent and 88.2 per cent of the revised estimates.

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

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