Fiscal deficit at 20.5% of target in April-July

New Delhi, August 31

The Central government’s fiscal deficit touched 20.5% of the annual target at the end of July 2022-23 against 21.3% a year ago, reflecting improvement in public finance, as per official data released on Wednesday.

In actual terms, the fiscal deficit — the difference between expenditure and revenue — was Rs 3,40,831 crore during the April-July period this financial year.

A fiscal deficit is a reflection of government borrowings from the market.

As per the data released by the Controller General of Accounts (CGA), the government’s receipts, including taxes, stood at Rs 7.85 lakh crore or 34.4% of the Budget Estimates (BE) for 2022-23. During the year-ago period, it was nearly the same at 34.6%.

The tax revenue stood at Rs 6.66 lakh crore or 34.4 per cent of this year’s BE. — PTI

Receipts stood at Rs 7.85 lakh crore

• In actual terms, the fiscal deficit — the difference between expenditure and revenue — was Rs 3,40,831 crore during the April-July period this financial year
• The government’s receipts, including taxes, stood at Rs 7.85 lakh crore or 34.4% of the Budget Estimates (BE) for 2022-23