Govt likely to save around Rs 80k crore in FY23 from unused budgeted funds

The government will be saving more than two per cent on the Rs 39.4 trillion budget

The central government will likely save around Rs 80,000 crore in the current financial year as various ministries and departments have underutilised allocated funds because of tardy spending by states under some of the Centrally Sponsored Schemes (CSS), reported The Economic Times (ET) on Wednesday.

The government will save more than 2 per cent on the Rs 39.4 trillion budget. This will give the Centre some fiscal room to absorb any additional demand, and help stay within the targeted fiscal deficit of 6.4 per cent of GDP, the report stated.

"Savings from unused funds would be about Rs 80,000 crore,