India News | Fiscal Deficit for FY24 Improves to 5.63 Pc of GDP
Get latest articles and stories on India at LatestLY. The government's fiscal deficit for 2023-24 stood at 5.63 per cent of the GDP, marginally better then the 5.8 per cent estimated in the Union Budget, as per official data released on Friday.
New Delhi, May 31 (PTI) The government's fiscal deficit for 2023-24 stood at 5.63 per cent of the GDP, marginally better then the 5.8 per cent estimated in the Union Budget, as per official data released on Friday.
In actual terms, the fiscal deficit, or gap between expenditure and revenue, was at Rs 16.53 lakh crore.
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In the revised estimate for 2023-24, the government had projected the fiscal deficit of Rs 17.34 lakh crore, or 5.8 per cent of the GDP, in the interim Budget tabled on February 1 in Parliament.
According to the data released by the Comptroller General of India, the government managed to meet the revenue collection target.
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Net tax collection was at Rs 23.26 lakh crore in FY24, while the expenditure stood at Rs 44.42 lakh crore.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)