Fiscal deficit for 2021-2022 at 6.7% of GDP, lower than previous estimate: Center

For the last fiscal year, the government had initially set the fiscal deficit at 6.8% of GDP.

Fiscal deficit for 2021-2022 worked out at 6.71 per cent of gross domestic product (GDP), lower than 6.9 per cent projected by the Ministry of Finance in the revised budget estimates, according to government data released on Tuesday.

Unveiling the data on revenue expenditures of the Union government for 2020-2021, the Controller General of Accounts (CGA) said the fiscal deficit was in absolute terms 15,86,537 crore (provisional).

The revenue shortfall at the end of 2021-2022 was 4.37 percent.

For the last fiscal year, the government had initially set the fiscal deficit at 6.8 percent of GDP in the budget presented in February 2021.

The government in the revised estimates in the budget for 2022-2023 predict a higher fiscal deficit of 6.9 percent of GDP than 15,91,089 crore for the fiscal ended March.

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