Here is what the Economic Survey says on Fiscal Deficit

31 Jan 2023 , 03:40 PM

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