Budget 2022: FM stays on fiscal correction path, banks on capex push

Tax revenues have been a bright spot for the Centre in FY22

On the back of an expanded public investment programme, Finance Minister Nirmala Sitharaman has set a fiscal deficit target of Rs 16.6 trillion for 2022-23, or 6.4 per cent of nominal gross domestic product. This compares with Rs 15.9 trillion (6.9 per cent of GDP) Revised Estimate and Rs 15.1 trillion (6.8 per cent) Budget Estimate for 2021-22.

“The Fiscal Deficit in 2022-23 is estimated at 6.4 per cent of GDP, which is consistent with the broad path of fiscal consolidation announced by me last year to reach a fiscal deficit level below 4.5 per cent by 2025-26. While setting the