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The 2022 Budget had seen the central government make a 10-basis-point upward revision to its fiscal deficit target for FY22 to 6.9 percent of GDP.
The central government’s fiscal deficit for FY22 has come in at 6.7 percent, undershooting the revised target by 20 basis points, data released on May 31 by the Controller General of Accounts showed.
As per the 2022 Budget, the fiscal deficit was revised to Rs 15.91 lakh crore. As such, the deficit, at Rs 15.87 lakh crore, is Rs 4,552 crore lower than the target.
As per the data released on May 31, March – the month for which data was awaited – saw the Centre post a fiscal deficit of Rs 2.70 lakh crore.
In March 2021, the Centre had posted a fiscal deficit of Rs 4.13 lakh crore.