The finance minister estimates the budgeted fiscal deficit, which is the difference between the government expenditure and income, for the next fiscal ending March 2023 at 6.4%. The revised fiscal deficit estimate for the current financial is pegged at 6.9% against budgeted target 6.8%. Total expenditure is estimated at Rs 39.45 lakh crore. Revenues are estimated at Rs 22.84 lakh cr. The Union government's capital expenditure in financial year 2022-23 will be Rs 7.50 lakh crore from Rs 5.54 lakh crore in this fiscal which is an increase of 35.4%. Capital expenditure will now account for 2.9% of the country's GDP, the finance minister said.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU