India's April-July fiscal deficit widens to Rs 6.06 lakh cr
New Delhi: India’s fiscal deficit increased to Rs 6.06 lakh crore in April-July while it was Rs 4.51 lakh crore in April-June, the data issued by the Controller General of Accounts on Thursday showed.
This represents 33.9 percent of the full-year fiscal deficit target of Rs 17.87 lakh crore.
In the same period last year, the fiscal deficit for April-July stood at 20.5 percent of the target for 2022-23.
With a fiscal deficit of Rs 1.54 lakh crore in July, the Centre's finances weakened.
In contrast, in the same month last year, the government recorded a fiscal surplus of Rs 11,040 crore.
Despite the widening of the fiscal deficit in July, the Centre remains broadly on track to meet its fiscal deficit target of 5.9 percent of the GDP for 2023-24, which is lower than 6.4 percent of GDP in the previous financial year.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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