New Delhi: A report published by a financial rating agency said that the fiscal deficit of the country will improve to 6.7% in this fiscal year. The fiscal deficit of states in the country will be 3.5%.
Earlier the Union government in the revised estimates in the Budget for 2022-23 forecast a higher fiscal deficit of 6.9% and states’ at 3.4%. The revenue deficit at the end of 2021-22 was 4.37%.
According to the data released by the government, the tax receipts during the fiscal were at Rs 18.2 trillion as against the revised estimates (RE) of Rs 17.65 trillion. The total expenditure was higher at Rs 37.94 trillion against the RE of Rs 37.7 trillion.