India's April-July fiscal deficit recorded at 20.5% of FY23 target

The centre spent Rs 1.1 trillion or 35% of the full year's estimate for food, fertiliser and petroleum subsidies

India’s fiscal deficit during the first four months of the ongoing financial year was at Rs 3.4 trillion or 20.5 per cent of the annual target, according to government data. In April-July 2021, the Centre’s fiscal deficit was Rs 3.2 trillion or 21.3 per cent of last year’s target.

The country's fiscal deficit is projected at 6.4 per cent of GDP for the year ending March 2023, as against 6.71 per cent for the previous year.

The Centre’s total receipts stood at Rs 7.86 trillion or 34.4 per cent of this year’s target; during the corresponding period a year ago,