The Centre’s fiscal deficit widened in April-February 2024 to ₹15.01 lakh crore, which is about 86.5 percent of Revised Estimate of ₹17.35-lakh crore.

Economy Business

As per data released by the Controller General of Accounts, At Rs15.01 lakh crore, the fiscal deficit for the first 11 months of the current financial year accounts for 86.5 percent of the revised estimate of Rs 17.35 lakh crore. The original budget estimate was Rs17.87 lakh crore. The fiscal deficit in April 2022-February 2023 was 82.8 percent of the target for FY23. In the interim Budget presented on February 1, the central government narrowed its fiscal deficit target for FY24 by 10 basis points to 5.8 percent of GDP, while it aims to bring it down further to 5.1 percent in the next financial year. In February, the Centre's fiscal deficit surged to Rs 3.98 lakh crore, 51.6 percent higher than a year ago. On the whole, total receipts were 11.6 percent more in April 2023-February 2024 than what was collected in the same period of the previous year.


      The Centre's capex more than quadrupled to Rs 84,426 crores in February 2024 from Rs 20,335 crores in the same month last fiscal.

      In the interim Budget for FY25, the Centre slashed the target for capital expenditure during the current fiscal by around Rs 50,000 crores to Rs 9.5 lakh crore.

     

 

     


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