Centre's fiscal deficit touches 59 pc of full-year target in Nov end

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By  India Blooms News Service   Dec 31, 2022

New Delhi/IBNS: Centres fiscal deficit at the end of November touched 59 percent of the full-year budget target, showed the data released by the Controller General of Accounts (CGA) on Friday.

Fiscal deficit, defined as the difference between expenditure and revenue, stood at Rs 9,78,154 crore during the April-November period of 2022-23.

During the same period in 2021-22, the deficit stood at 46.2 percent of the budget estimates for 2021-22.

According to experts, Indias nominal GDP is expected to overshoot in FY23 by approximately $22 lakh crore, and fiscal deficit as a percentage of GDP will be either lower than Budget estimates of 6.4 percent or slightly above it.