Education

Budget deficit hits 21.2% of annual target in first quarter of 2022-23


In real terms, the budget deficit at the end of the first quarter of 2022-23 stood at Rs 3.51 lakh crore.

New Delhi:

According to official data, the central government budget deficit stood at 21.2 percent of the annual target in the June quarter, down from 18.2 percent in the same period a year ago.

The budget deficit is the difference between total government expenditure and revenue. It indicates the total borrowing required by the government.

In real terms, the budget deficit stood at Rs 3.51 lakh crore at the end of the first quarter of 2022-23, data from the Comptroller General of Accounts (CGA) showed on Friday.

The country’s budget deficit is estimated at 6.4% of GDP for the fiscal year ending March 2023, down from 6.71% last year.

According to the Central Government Monthly Accounts up to June 2022 published by the CGA, the revenue stood at Rs 5.96,040 Crore or 26.1% of the respective Budget Estimates (BE) of the total revenue for 2022-23 .

In the prior year period, revenue was 27.7% of 2021-22 BE.

In the last quarter of June, the total central government expenditure stood at Rs 9,47,911 crore or 24% of the corresponding BE of 2022-23. This represented 23.6% of the BE of 2021-22 over the same period.

2022-23

The government budget deficit for the period is estimated at Rs.16,61,196 crore.

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