According to official data, the fiscal deficit of the central government reached 21.2 per cent of the annual target in the June quarter, compared to 18.2 per cent a year ago.
Fiscal deficit is the difference between the government’s total expenditure and revenue. It indicates the total borrowing required by the government.
In real terms, the fiscal deficit stood at Rs 3.51 lakh crore at the end of the first quarter of 2022-23, data from the Controller General of Accounts (CGA) showed on Friday.
The country’s fiscal deficit is estimated at 6.4 per cent of GDP for the fiscal year ending March 2023, as against 6.71 per cent in the previous year.
According to the monthly account of the central government till June 2022 released by the CGA, the receipts stood at Rs 5,96,040 crore or 26.1 per cent of the respective Budget Estimates (BE) 2022-23 of the total receipts.
In the year-ago period, receipts stood at 27.7 per cent of BE 2021-22.
In the latest June quarter, the total expenditure by the central government stood at Rs 9,47,911 crore or 24 per cent of the corresponding BE 2022-23. In the same period, it was 23.6 percent of the budget estimate 2011-22.
The government’s fiscal deficit for 2022-23 is estimated at Rs 16,61,196 crore.