New Delhi: The Controller General of Accounts (CGA) report unveiled a notable development in the government’s fiscal deficit, reaching Rs 9.06 lakh crore by the end of November. This amount constitutes 50.7% of the anticipated full-year budget estimate, marking a significant decline compared to the corresponding period last year, where the deficit was 58.9% of the 2022-23 budget estimates.

In absolute terms, the fiscal deficit for April-October 2023-24 stood at Rs 9,06,584 crore, reflecting a diligent fiscal approach. The government has set a target of achieving a fiscal deficit of Rs 17.86 lakh crore, equivalent to 5.9% of the GDP for the fiscal year 2023-24.

The revenue accrued by the Government of India amounted to Rs 17.4 lakh crore until November 2023, comprising 64.3% of the corresponding Budget Estimate for 2023-24. This includes tax revenue of Rs 14.35 lakh crore (net), non-tax revenue of Rs 2.84 lakh crore, and non-debt capital receipts of Rs 25,463 crore, encompassing loan recoveries and miscellaneous capital receipts.

The central government’s total expenditure during April-November 2023 reached Rs 26.52 lakh crore, with Rs 20.66 lakh crore allocated to the revenue account and Rs 5.85 lakh crore to the capital account.

Maintaining a trajectory of fiscal prudence, the government is steadfast in its aim to curb the fiscal deficit to below 4.5% of the GDP by the fiscal year 2025-26. This commitment underscores a continued focus on fiscal discipline and financial stability.