Fiscal deficit touched 21.2% of target in Q1

• The government’s fiscal deficit touched 21.2% of the annual target in the June quarter as against 18.2% in the year-earlier period.

Highlights

• In actual terms, the fiscal deficit was at ₹3.51 lakh crore at the end of the first quarter of 2022-23, data from the Controller General of Accounts (CGA).
• The fiscal deficit is projected at 6.4% of the GDP, for this fiscal year ending on March 31, 2023.
• Receipts stood at 26.1% of the corresponding Budget Estimates (BE), compared with 27.7% in the year-earlier period.

Prelims Take Away

• Fiscal deficit
• Deficit and types