February 28, 2023
1 min read

India’s fiscal deficit rises

The fiscal deficit for the corresponding period of last year was 58.9 per cent of the previous fiscal’s target….reports Asian Lite News

The fiscal deficit for the first 10 months of the current fiscal rose to Rs 11.91 lakh crore, which was 67.8 per cent of the whole year target for 2022-23, according to data released by the Controller General of Accounts on Tuesday.

The fiscal deficit for the corresponding period of last year was 58.9 per cent of the previous fiscal’s target.

The government had made an upward revision in the fiscal deficit target for 2022-23 in the Union Budget to Rs 17.55 lakh crore from Rs 16.61 lakh crore.

The total revenue receipts for April-January period of 2022-23 were Rs 19.76 lakh crore, which is 81.3 per cent of the revised 2022-23 budget estimate of Rs 24.32 lakh crore. During the corresponding period of last year, the total receipts were 88.5 per cent of the budget estimate.

The net tax revenue, for the 10-month period ending January 2023, was Rs 16.89 lakh crore, which is 80.9 per cent of the entire fiscal’s target. During the year-ago period, the net tax revenue collected was 87.7 per cent of the annual target.

The total expenditure in 2022-23 till January was Rs 31.67 lakh crore, which is 75.7 per cent of the 2022-23 target.

The government raised Rs 31,123 crore through disinvestment between April and January of 2022-23, which is 62 per cent of the current fiscal’s revised target of Rs 50,000 crore.

Centre’s market borrowings in the April-January period rose to Rs 10.05 lakh crore, which is 84 per cent of the current fiscal’s target.

ALSO READ: Almost 1.2 lakh tech employees fired in Jan-Feb alone

Previous Story

‘India’s growth indicators show signs of re-acceleration’

Next Story

Indian firms rethinking content supply chains

Latest from Business

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand

Nothing’s CMF Goes Indian with $100M JV

Company has announced a $100 million joint venture with Indian electronics manufacturer Optiemus Infracom Limited….reports Asian Lite News Smartphone maker Nothing has spun off its budget sub-brand CMF into an independent subsidiary,

Airbnb Boosts India Economy

Among international guests, the largest inbound sources were the United States, United Kingdom, Canada, and Australia Hospitality giant Airbnb made a significant impact on India’s economy in 2024, contributing Rs 113 billion

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s
Go toTop

Don't Miss

‘It’s India’s century’

“The time is now for India and the world knows

Women Entrepreneurs Get Govt Boost

Union Minister Piyush Goyal announced that women entrepreneurs will get