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Fiscal Deficit

June 5, 2023

Context: 

The government’s fiscal deficit as of end ­December touched 59.8% of the full year Budget Estimate (BE) on subdued growth in revenue collections, according to Finance Ministry data released. 

About the News:

  • In actual terms, the fiscal deficit — the difference between expenditure and revenue — was ₹9,92,976 crore during the April-­December period of 2022­-23.
  • In the corresponding period last year, the deficit stood at 50.4% of the BE of 2021­-22.
  • The Centre had budgeted fiscal deficit at ₹16.61 lakh crore, or 6.4% of the GDP, in the current financial year ending March 2023. The deficit is funded by market borrowing. 

About Fiscal Deficit:

  • Fiscal deficit is defined as excess of total expenditure over total receipts excluding borrowings during a fiscal year.
  • It reflects the borrowing requirements of the government for financing the expenditure including interest payments.
    • Fiscal deficit = Revenue expenditure + capital expenditure – Revenue receipts – capital Receipts excluding borrowings.
  • It is an indicator of the increase in future liabilities of the government on interest payment and loan repayment.

 News Source: The Hindu

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 Final Result – CIVIL SERVICES EXAMINATION, 2023.   Udaan-Prelims Wallah ( Static ) booklets 2024 released both in english and hindi : Download from Here!     Download UPSC Mains 2023 Question Papers PDF  Free Initiative links -1) Download Prahaar 3.0 for Mains Current Affairs PDF both in English and Hindi 2) Daily Main Answer Writing  , 3) Daily Current Affairs , Editorial Analysis and quiz ,  4) PDF Downloads  UPSC Prelims 2023 Trend Analysis cut-off and answer key
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UDAAN PRELIMS WALLAH
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