The finance minister estimates the budgeted fiscal deficit, which is the difference between the government expenditure and income, for the next fiscal ending March 2023 at 6.4%. The revised fiscal deficit estimate for the current financial is pegged at 6.9% against budgeted target 6.8%. Total expenditure is estimated at Rs 39.45 lakh crore. Revenues are estimated at Rs 22.84 lakh cr. The Union governments capital expenditure in financial year 2022-23 will be Rs 7.50 lakh crore from Rs 5.54 lakh crore in this fiscal which is an increase of 35.4%. Capital expenditure will now account for 2.9% of the countrys GDP, the finance minister said.
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