Here is what the Economic Survey says on Fiscal Deficit

  • 31 Jan, 2023 |
  • 3:40 PM
  • Government should meet FY23 Fiscal Deficit target of 6.4% of GDP, says the survey

Key takeaways

  • The additional expenditure needs of the Centre arising during the current year are expected to be fulfilled by the more-than-anticipated revenue collections
  • With resilient economic growth, continued revenue buoyancy, and careful expenditure management over the medium run, the Union Government will be on track with the fiscal path outlined by the Medium-Term Fiscal Policy Statement
  • The budgetary reforms introduced by the Union Government in the last few years will support attaining the fiscal policy targets
  • The general government deficits as a percent of GDP have consolidated after their peak in FY21 and are also expected to follow the path of fiscal consolidation in the medium term
  • The government aims to lower fiscal deficit to 4.5% of GDP by FY26

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