With one quarter to go, fiscal deficit at 55% of target
The HinduThe Union Government’s fiscal deficit stood at ₹9.8 lakh crore, or 55% of its Budget target through the first nine months of the fiscal year, as per data from the Controller General of Accounts. to meet the capex target for the year, which appears optimistic relative to the ₹2.5 lakh crore recorded in the same quarter of 2022-23,” said Aditi Nayar, chief economist at ICRA. India Ratings & Research economists pointed out that the revenue expenditure growth of 2.3% between April and December 2023 was the slowest since 1998-1999, when monthly government accounts data became available. the first contraction observed since 1998-99,” the firm’s principal economist and senior director Sunil Kumar Sinha and senior analyst Paras Jasrai wrote in a note to clients.