TNPSC Thervupettagam

FY23 Fiscal Deficit Target

June 6 , 2023 409 days 428 0
  • The central government has met its fiscal deficit target of 6.4 percent of GDP for 2022-23.
  • Rs 17.33 lakh crore, the fiscal deficit for FY23, amounts to 6.4 percent of the GDP.
  • But the deficit was lower than the revised estimate of 17.55 trillion given in the Union Budget 2023.
  • Total receipts for fiscal 2023 stood at Rs 24.56 lakh crore, while the overall expenditure was at Rs 41.89 lakh crore.
  • Revenue receipts were at 23.84 trillion of which tax revenue was 20.97 trillion.
  • Non-tax revenue was 2.86 trillion, narrower than 116.4% a year ago.
  • Net tax revenues and non-tax revenues reported a sharp contraction of 13.9% and 8.2% respectively.

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