The government’s fiscal deficit narrowed to ₹17.33 trillion or 6.4% of GDP for the financial year ended March 2023 compared with the previous financial year, on the back of higher tax receipts.
Official data released on Wednesday showed that the deficit was lower than the revised estimate of ₹17.55 trillion given in the Union Budget 2023.
Total receipts for the fiscal stood at ₹ 24.56 trillion, which was slightly over the target, while expenditure was ₹41.89 trillion, meeting the target of the revised budget.
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