Fiscal deficit for 2021-22 at 6.7% of GDP, decrease than earlier estimate: CGA

Fiscal deficit for 2021-22 labored out to be 6.71 per cent of the gross home product (GDP), decrease than 6.9 per cent projected by the Finance Ministry within the revised Budget Estimates, in response to authorities information launched on Tuesday.

Unveiling the revenue-expenditure information of the Union authorities for 2020-21, the Controller General of Accounts (CGA) stated that the fiscal deficit within the absolute phrases was be Rs 15,86,537 crore (provisional).

The income deficit on the finish of 2021-22 was 4.37 per cent.

For the final monetary yr, the federal government had initially pegged the fiscal deficit at 6.8 per cent of the GDP within the funds offered in February 2021.

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The authorities within the revised estimates within the Budget for 2022-23 forecast the next fiscal deficit of 6.9 per cent of the GDP or Rs 15,91,089 crore for the fiscal resulted in March.