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The Controller General of Accounts (CGA) in its latest data has said that the India's fiscal deficit in the first half of the current financial year works out to be 37.3 percent of the full-year target. In actual terms, the fiscal deficit - the difference between expenditure and revenue - was Rs 6,19,849 crore during the April-September period of 2022-23. It was 35 percent of Budget Estimates (BE) in the corresponding period last fiscal.

As per the data released by CGA, the total receipts, including taxes, stood at Rs 12.03 lakh crore or 52.7 percent of BE for 2022-23. During the year-ago period, the collection was 55.6 percent of BE 2021-22. The tax revenue stood at about Rs 10.11 lakh crore or 52.3 percent of this year’s BE.

The total expenditure was Rs 18.23 lakh crore or 46.2 percent of the BE 2022-23. It was 46.7 percent of BE 2021-22. For 2022-23, the fiscal deficit of the government is estimated to be Rs 16.61 lakh crore or 6.4 percent of the GDP.