Tue. Oct 3rd, 2023

New Delhi- The authorities’s fiscal deficit moderated barely to six.4 per cent of the GDP in 2022-23 from 6.71 per cent within the corresponding interval, in keeping with the revenue-expenditure knowledge launched on Wednesday.

The Controller General of Accounts (CGA) mentioned that the fiscal deficit in absolute phrases was Rs 17, 33, 131 crore (provisional), which was marginally down from the quantity projected within the revised estimates (RE) within the finances.

The CGA added that the federal government acquired Rs 24.56 lakh crore (101 per cent of corresponding RE 2022-23 of whole receipts) throughout 2022-23.

This comprised Rs 20.97 lakh crore tax income (Net to Centre), Rs 2.86 lakh crore of non-tax income and Rs 72, 187 crore of non-debt capital receipts.

Non-debt capital receipts encompass the restoration of loans and miscellaneous capital receipts.

About Rs 9.48 lakh crore has been transferred to state governments as devolution of taxes by the Central authorities, which is Rs 50, 015 crore greater than the earlier 12 months (2021-22).

The CGA knowledge additional revealed that the Centre’s whole expenditure was Rs 41.89 crore (100 per cent of corresponding RE 2022-23), out of which Rs 34.52 lakh crore was on the income account and Rs 7.36 lakh crore on the capital account.

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