Fiscal deficit touches 21.2 pc of annual target in Q1: Data

NEW DELHI: The Centre’s fiscal deficit touched 21.2 per cent of the annual target in the June quarter as against 18.2 per cent in the year-ago period, according to official data. The fiscal deficit is the difference between total expenditure and revenue of the government. It indicates the total borrowing that are needed by the government. In actual terms, the fiscal deficit was at Rs 3.51 lakh crore at the end of the first quarter of 2022-23, data from the Controller General of Accounts (CGA) data showed on Friday. The country’s fiscal deficit is projected at 6.4 per cent of the GDP for this fiscal ending March 2023 as against 6.71 per cent for the previous year. For 2022-23, the fiscal deficit of the government is estimated to be Rs 16,61,196 crore.