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Budget 2023
Budget 2023

Centre's fiscal deficit at Rs 3.52 lakh crore for April-June, 21% of FY23 target

In June, the central government posted a fiscal deficit of Rs 1.48 lakh crore.

July 29, 2022 / 05:15 PM IST

The central government's fiscal deficit stood at Rs 3.52 lakh crore in April-June, accounting for 21.2 percent of the full-year target, data released on July 29 by the Controller General of Accounts showed.

The fiscal deficit in the first three months of FY22 was Rs 2.74 lakh crore. As such, the fiscal deficit in the first quarter of the current financial year is 28.3 percent higher on a year-on-year basis.

The fiscal deficit for April-June 2021 had accounted for 18.2 percent of the FY22 target.

The Centre is targeting a fiscal deficit of Rs 16.61 lakh crore for FY23, or 6.4 percent of GDP.

On the whole, total receipts for April-June were 8.9 percent higher compared to last year.

KEY HIGHLIGHTS OF CENTRE'S FINANCES FOR APRIL-JUNE (in Rs lakh crore)
APR-JUN% CHANGE YoY% OF BUDGET TARGET
Fiscal deficit 3.52 28.3% 21.2%
Total receipts 5.96 8.9% 26.1%
    Net tax revenue 5.06 22.6% 26.1%
    Non-tax revenue 0.62 -51.2% 23.1%
    Disinvestment 0.25 514.6% 37.8%
Total expenditure9.48 15.4% 24.0%
    Capital spending 1.75 57.0% 23.4%

With regard to spending, June was another good month for capital expenditure as the Centre crept closer to its budget target of Rs 7.5 lakh crore.