Govt’s fiscal deficit moderates to 6.4% of GDP in 2022-23

New Delhi- The government’s fiscal deficit moderated slightly to 6.4 per cent of the GDP in 2022-23 from 6.71 per cent in the corresponding period, according to the revenue-expenditure data released on Wednesday.

The Controller General of Accounts (CGA) said that the fiscal deficit in absolute terms was Rs 17, 33, 131 crore (provisional), which was marginally down from the amount projected in the revised estimates (RE) in the budget.

The CGA added that the government received Rs 24.56 lakh crore (101 per cent of corresponding RE 2022-23 of total receipts) during 2022-23.

This comprised Rs 20.97 lakh crore tax revenue (Net to Centre), Rs 2.86 lakh crore of non-tax revenue and Rs 72, 187 crore of non-debt capital receipts.

Non-debt capital receipts consist of the recovery of loans and miscellaneous capital receipts.

About Rs 9.48 lakh crore has been transferred to state governments as devolution of taxes by the Central government, which is Rs 50, 015 crore higher than the previous year (2021-22). The CGA data further revealed that the Centre’s total expenditure was Rs 41.89 crore (100 per cent of corresponding RE 2022-23), out of which Rs 34.52 lakh crore was on the revenue account and Rs 7.36 lakh crore on the capital account.