Union Budget 2022: Job and Income Supporting Measures To Be Watched in Upcoming Budget
Following a robust 30 per cent growth in FY22E, total receipts are expected to grow 13.4 per cent YoY in FY23E, assuming a gross tax buoyancy of 1.1x, similar to that in the pre-Covid period. If total spending rises by 9 per cent in FY23E, the gross fiscal deficit of the Centre would be Rs 15.4 trillion, or 6 per cent of GDP, the report said.