Fiscal deficit at about 50% of FY24 goal

As tax revenue grows, subsidy and spending outgo remain broadly in line with estimates

The central government's fiscal deficit stood comfortably at 9 lakh crore in the April to November period, about half of the estimated full-year target, as tax revenue grew in twin digits, and spending and subsidy outgo were broadly in line with estimates.

With this, fiscal deficit, the gap between government spending and revenue that is met through borrowing, for the full fiscal looks set to remain in line with the 217.9 lakh crore estimated at the beginning of the year. The government has so far stuck to its borrowing calendar although it has secured Parliament's approval for extra spending of a net 258,378 crore in the current fiscal involving cash outgo. The Centre has borrowed 28.1 lakh crore in the first eight months of this fiscal against the 12.3-lakh crore market borrowing target.