Centre Meets FY23 Fiscal Deficit Target of 6.4% of GDP

The Union government has successfully achieved its fiscal deficit target of 6.4% of the gross domestic product (GDP) for the financial year 2022-23.
Despite higher revenue expenditure, particularly on subsidies and interest payments, the government’s robust tax revenue contributed to this achievement, as per official data released.
This accomplishment aligns with the fiscal glide path outlined by Finance Minister Nirmala Sitharaman in the Union Budget for FY24.