Budget 2023: Government Sets Fiscal Deficit Target At 5.9 Per Cent Of GDP For 2023-24

Fiscal deficit is the difference between total expenditure and revenue of a government in a year.

Written by: IANS Edited by: Tahir Qureshi

Published: February 1, 2023, 1:17 PM IST

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Budget 2023: Government Sets Fiscal Deficit Target At 5.9 Per Cent Of GDP For 2023-24

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday set the fiscal deficit target for 2023-24 at 5.9 per cent of the GDP, while emphasising that the government is committed to bring it below the 5 per cent-mark by 2025-26. In her Budget speech, Sitharaman said that in 2021-22, she had announced that the government would continue on its path of fiscal consolidation and would strive to bring fiscal deficit below 5 per cent of the GDP by 2025-26.

Fiscal deficit is the difference between total expenditure and revenue of a government in a year.

In the Budget for 2022-23, the fiscal deficit target was set at 6.4 per cent of the GDP, which was later revised to 6.9 per cent of the GDP.

(Except for the headline, the story has not been edited by india.com)