India's fiscal deficit in April-January widens to Rs 11.91 lakh crore, touches 68% of full-year target     

The fiscal deficit of the Government of India for the first ten months of 2022-23 has widened to Rs 11.91 lakh crore, shows the data released on February 28 by the Controller General of Accounts.

The fiscal deficit stood at Rs 11.91 lakh crore, accounting for 67.8 per cent of the full-year target for 2022-23. The fiscal deficit in the first 10 months of the last financial year was 58.9 per cent of that year's target.

The government of India has revised its fiscal deficit target for 2022-23 in the 2023 Budget to Rs 17.55 lakh crore from Rs 16.61 lakh crore. However, compared to the size of India's economy, this year is set to exceed the Budget estimate and the fiscal deficit as a percentage of GDP has remained unchanged from the initial target of 6.4 per cent.

Total receipts stood at 19.77 lakh crore rupees, while the overall expenditure from April to January stood at 31.68 lakh crore rupees., accounting for 81.3 per cent and 75.7 per cent of this fiscal year's revised budget target.

Revenue receipts were at 19.20 lakh crore rupees, of which tax revenue was 16.89 lakh crore rupees and non-tax revenue was 2.31 lakh crore rupees. Tax and non-tax revenues were 80.9 per cent and 88.2 per cent of the revised estimates, narrower than 87.7 per cent and 92.9 per cent in the year-earlier period. 

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