Fiscal deficit reaches 86.5% of annual target by February

Government's fiscal deficit has reached Rs 15 lakh crore, accounting for 86.5 per cent of the revised annual target by the end of February, according to latest official data released on Thursday.

Comparatively, during the same period last year, the fiscal deficit stood at 82.8 per cent of the Revised Estimates (RE) of the Union Budget for 2022-23.

For the fiscal year 2023-24, the government has estimated a fiscal deficit of Rs 17.35 lakh crore, equivalent to 5.8 per cent of the GDP.

As of February 2024, the government's total receipts amounted to Rs 22.45 lakh crore, representing 81.5 per cent of the corresponding RE for total receipts in 2023-24, as per data released by the Controller General of Accounts (CGA).

Meanwhile, the total expenditure incurred by the centre stood at Rs 37.47 lakh crore, accounting for 83.4 per cent of the corresponding RE for 2023-24.

The data reflects government's efforts to manage fiscal targets amid economic challenges and changing priorities.

(With PTI inputs)