The Government’s Fiscal Deficit at the end of December was 59.8 percent of the total Budget Estimate of a subdued increase in revenue collection as per financial ministry figures that were released on Tuesday. In actual terms, the fiscal deficit which refers to the amount that is different between the expenditure in revenue and expenditure — was 9,92,976 crore in the period between April and December of 2022-23. At the same time this year, it was 50.4 percent of Budget Estimates (BE) for 2021-22.
It has budgeted a deficit fiscal of 16.61 lakh crore,
which is 6.4 percent of GDP for the current fiscal year, which will close in March 2023. The deficit is financed by market borrowing. According to Controller General of Accounts (CGA) information in the CGA report, the net tax revenue at 15.55 lakh crore was 80.4 percent of the BE 2022-23. For the same time period in 2021-22, the tax net revenues were 95.4 percent of the BE.
Non-tax revenue stood at 2.14 lakh crore
or 79.5 percent of the BE. In the previous fiscal the amount collected by the end of December was 106.7 percent of the BE. The total government expenditure between April and December will be approximately 71.4 percent BE in 2022-23. This is less than 72.4 percent of BE during the year before.
Capital expenditure stood at 4.89 lakh crore,
which is 65.4 percent of the BE as of the month of December, which was at its end. This CAPEX total was 70.7 percent of the BE in the same period in the last fiscal year. According to CGA figures, the total central government revenues, including tax revenue, amounted to Rs 18.25 lakh crore, which is 79.9 percent of this year’s BE. In the previous year, the total revenue reached 89.1 percent of the BE 2021-22.
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