Underspending by key ministries may help govt achieve FY24 deficit target

Underspending by as many as 15 central government departments where expenditures are less than one-third of the budgeted amount during the initial eight months of the current financial year (FY24) may help the government achieve the fiscal deficit target of 5.9 per cent of gross domestic product for FY24, experts said.  

According to latest data released by the Controller General of Accounts (CGA), the 15 departments have cumulatively spent only 17.8 per cent of the Rs 1.45 trillion allocated in the Budget. These departments and ministries include micro, small and medium enterprises, petroleum, civil aviation, food processing, heavy industries, and electronics