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The Union government's fiscal deficit touched ₹9.82 lakh crore or 55% of the annual budget target at the end of December 2023, according to data released by the Controller General of Accounts (CGA) on Wednesday.
In the corresponding period last year, the deficit was 59.8% of the budget estimates for 2022-23.
For 2023-24, the government's fiscal deficit is estimated at ₹17.86 lakh crore or 5.9% of the GDP.
The CGA said the net tax revenue receipts stood at 17.29 lakh crore or 74.2% of the full-year target at December-end 2023. The net tax collection was 80.4% of that year's target during the year-ago period.
The central government's total expenditure during the April-December period was ₹30.54 lakh crore or 67.8% of the current year's budget estimates (BE). In the nine months through December 2022, the expenditure was 71.4% of the BE.
Continuing the path of fiscal consolidation, the government intends to bring the fiscal deficit below 4.5% of GDP by 2025-26.
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