India's fiscal deficit at 6.71 per cent in 2021-22, lower than budget estimate
May 31, 2022
New Delhi [India], May 31 : India's fiscal deficit for the year ended March 2022 stood at Rs 15,86,537 crore, or 6.71 per cent of the country's gross domestic product (GDP), lower than 6.9 per cent projected by the Finance Ministry in the revised budget estimate, the government data showed on Tuesday.
According to data released by the Controller General of Accounts (CGA), India's revenue deficit during fiscal 2021-22 stood at 4.37 per cent of GDP.
In the union budget for 2021-22 presented in February 2021, Finance Minister Nirmala Sitharaman had initially pegged the fiscal deficit for 2021-22 at 6.8 per cent.
In the union budget 2022-23 presented in February 2022, the finance minister revised the fiscal deficit target for 2021-22 to 6.9 per cent from the earlier projection of 6.8 per cent.
In absolute terms, the fiscal deficit for the year ended March 2022 was pegged at Rs 15,91,089 crore as per the revised budget estimate. The actual fiscal deficit number is lower at Rs 15,86,537 crore (provisional).
