The fiscal deficit of the Indian central government for FY22 was 6.7 percent of GDP, falling short of the revised target of 6.9 percent, according to the Controller General of Accounts.
The budget deficit for FY22 was Rs 15.87 lakh crore, down from the revised target of Rs 15.91 lakh crore by Rs 4,552 crore.
While the budget deficit for FY22 was lower than predicted, the Centre’s finances for FY23 have already deteriorated as a result of the finance ministry’s announcement earlier this month of a reduction in excise duty on gasoline goods and other steps to combat rising inflation.
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