The government expects the budget deficit to stand at 6.9% of GDP in the current fiscal year ending March 31, 2022
The government expects the budget deficit to stand at 6.9% of GDP in the current fiscal year ending March 31, 2022
According to government data released on Thursday, the center’s budget deficit at the end of February stood at 82.7% of its fiscal target for the full year, mainly due to higher spending.
In the last fiscal year, the budget deficit, or the gap between expenditure and revenue, was 76% of the 2020-21 revised estimate (RE).
In fact, the deficit stood at ₹13,16,595 crore at the end of February this year, according to data released by the Controller General of Accounts (CGA).
Total central government revenue amounted to 18.27 lakh crore or 83.9% of the 2021-22 budget ua. It was 88.2% of RE in the corresponding period of 2020-21.
Total government expenditure was ₹31.43 lakh crore or 83.4% of year-to-date ua. In the same period of the past fiscal year, it was 81.7% of RE.
The government expects the budget deficit to be 6.9% of GDP or 15.91 lakhcrore in the current fiscal year ending March 31, 2022.
