April-September fiscal deficit at 37% of FY23 target, net tax receipts Rs. 10.11 trillion (US$ 122 billion)
- IBEF
- November 1, 2022
According to official figures, the central government's fiscal deficit in the first half of the current fiscal year is 37.3% of the full-year target. Between April-September 2022, the fiscal deficit was at Rs. 619,849 crore (US$ 74.85 billion). According to figures issued by the Controller General of Accounts (CGA), the government's total collections, including taxes, for 2022-23 were Rs. 12.03 lakh crore (US$ 144.90 billion), or 52.7 percent of Budget Estimates (BE).
According to the monthly report of the union government up to September, capital expenditure was 45.7% of the full-year budget objective in the current fiscal, compared to 41.4% in the similar period last year. Interest payments accounted for Rs. 4.36 lakh crore (US$ 52.6 billion) of total revenue spending, while substantial subsidies accounted for Rs. 1.98 lakh crore (US$ 23.91 billion). The tax revenue stood at about Rs. 10.11 lakh crore (US$ 122 billion) or 52.3% of this year's BE.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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