: ‘Fiscal deficit will be brought down to below 4.5% by 2025-26’ #FinanceIndia #StockMarketNEWS #Business New Delhi: Fiscal deficit would be brought down to below 4.5% by 2025-26, finance minister

@StockMarketNEWS Wed 08 Feb, 2023

Posted in: #FinanceIndia #StockMarketNEWS #Business

‘Fiscal deficit will be brought down to below 4.5% by 2025-26’ #FinanceIndia #StockMarketNEWS #Business
New Delhi: Fiscal deficit would be brought down to below 4.5% by 2025-26, finance minister Nirmala Sitharaman said on Wednesday.



She also said that tax receipts for the next fiscal are budgeted at `23.3 lakh crore, and the states would be allowed 3.5% of GDP as fiscal deficit.



To finance the fiscal deficit in 2023-24, net market borrowing from dated securities is estimated at `11.8 lakh crore, Sitharaman said while presenting the union budget for 2023-24 in the Lok Sabha.



She retained the fiscal deficit target of 6.4% in the revised estimate for FY2022-23 and reduced it to 5.9% for the next fiscal. The government had pegged the fiscal deficit at 6.4% of the GDP for the current financial year.



The fiscal deficit or the gap between expenditure and revenue for 2022-23 is estimated to be `16,61,196 crore.

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