The Government's fiscal deficit grew to Rs 9.82 lakh crore in T April-December, accounting for 55.0 per cent of the full-year target of Rs 17.87 lakh crore for the first nine months of the current financial year, ahead of the interim Budget for 2024-25 to be tabled by the Finance Minister Nirmala Sitharaman in Parliament on 1 February. The fiscal deficit is marginally lower than the Rs 9.9 lakh crore recorded in April-December FY2023.
As per data released by the Controller General of Accounts on Wednesday, while net tax revenues rose by 11 per cent, non-tax revenues expanded by 46 per cent on the back of the RBI dividend, amidst a marginal 2 per cent growth in revenue expenditure, and a robust 38 per cent yoy expansion in capex. The Government is likely to announce a fiscal deficit target of 5.3 per cent of GDP for FY25.
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