India's April-February fiscal deficit at Rs 15.01 lk cr, hits 86.5% of FY24 target

The central government contained its fiscal deficit in the 2023-24 financial year at 63.6% of the revised target despite a moderation in nominal GDP growth. The deficit dropped 7.3% from a year ago period to ₹11.03 lakh crore. Revenue spending moderated while capital spending remained lower than the revised target.

In the first half of the fiscal year, the fiscal deficit of the Indian government has reached 39.3% of the annual target, compared to 37.3% during the same period in the previous year, according to official data released on Tuesday. However, the fiscal deficit has been kept under control after experiencing an initial spike until July.

New Delhi, Jan 31 (PTI) The Union government’s fiscal deficit touched Rs 9.82 lakh crore or 55 per cent of the annual Budget target at December-end 2023, according to data released by the Controller General of Accounts (CGA) on Wednesday. In the corresponding period last year, the deficit was 59.8 per cent of the budget […]

FY24 fiscal deficit likely to come in at 6% versus target of 5.9%

The Indian central government's fiscal deficit reached 50.7% of the annual target in the first eight months of this fiscal year, compared to 58.9% a year before. The deficit dropped below the level a year earlier, reaching ₹9.07 lakh crore between April and November. The fiscal gap narrowed to ₹1.03 lakh crore in November, thanks to lower tax devolution to states, a contraction in revenue spending, and only a marginal increase in capital expenditure.

In actual terms, the deficit was Rs 2,10,287 crore at end-May 2023, as per the data of the Controller General of Accounts (CGA).

India's fiscal deficit for the first five months of the current fiscal year, ending in August, reached 6.43 lakh crore rupees, equivalent to 36% of the annual estimates, according to government data. This represents an increase from the 32.6% deficit reported during the same period the previous year.

In the Union Budget, the government aimed to further bring down the fiscal deficit -- a key indicator of borrowing -- during the current financial year 2023-24 to 5.9 per cent of the gross domestic product

New Delhi [India], August 11 (ANI): Direct tax collections so far in 2023-24 have seen steady growth with total mop-up at Rs 6.53 lakh crore, a 15.73 per cent increase over the amount received in the same period last financial year. Direct Tax collection, net of refunds, stands at Rs. 5.84 lakh crore, which is […]

India's fiscal deficit for the last financial year ending March 31 met New Delhi's target and narrowed to 6.4% from the previous year, thanks to strong tax receipts and lower payments. The government expects the deficit to further reduce to 5.9% next year and aims to bring it under 4.5% of GDP by 2025-26.