CURRENT AFFAIRS : BANKING & FINANCE
Union Government’s fiscal deficit declines to 6.4% of GDP in 2022-23
- The fiscal deficit of the government decreased from 6.71% of Gross Domestic Product (GDP) to 6.4% of GDP in 2022–23.
Key Highlights :
- In the Union Budget, the government aims to further reduce the fiscal deficit to 5.z9% of GDP during the current fiscal year 2023-24.
- Unveiling the government’s revenue-expenditure figures for 2022-23, the CGA stated that the fiscal deficit in absolute terms stood at ₹17,33,131 crore (provisional), slightly less than the amount estimated in the Revised Estimates (RE) in the budget.
