On track to meet FY23 fiscal deficit target, inflation within RBI band: FM

'We'll bring inflation down further for the sake of common people', said FM Nirmala Sitharaman

The Centre will be able to achieve its fiscal deficit target of 6.4 per cent of gross domestic product (GDP) for 2022-23 (FY23) even after factoring in the Rs 4.36-trillion additional spending, Finance Minister Nirmala Sitharaman said on Wednesday.

Replying to the debate on the first batch of supplementary demands for grants for FY23 in the Lok Sabha, Sitharaman said she had been able to allocate more funds because of the buoyancy of revenues, to respond to developing situations on the ground.

The finance ministry had said last week that the Centre’s net direct tax collection grew 24.3 per cent to Rs