India's April-July Fiscal Deficit Rises To Rs 6.06 Lakh Crore

New Delhi: The government's fiscal deficit rose to Rs 6.06 lakh crore in the April-July period, compared to Rs 4.51 lakh crore in April-June, according to data released by the Controller General of Accounts (CGA) on Thursday.

This takes the fiscal deficit for the first four months of the current fiscal to 33.9 percent of the full-year target of Rs 17.87 lakh crore. The fiscal deficit for April-July 2022 was 20.5 percent of the target for 2022-23. (Also Read: Best Upcoming Phones In September 2023: 10 Smartphones To watch Out For)

In July, the monthly fiscal deficit was Rs 1.54 lakh crore, while during the corresponding period of last year, the government recorded a fiscal surplus of Rs 11,040 crore. (Also Read: India's GDP Growth Stands At 7.8% For First Quarter Of 2023-24, Lesser Than RBI's Estimate Of 8%)

The fiscal deficit for April-July 2022 was 20.5 percent of the target for 2022-23. The government's fiscal deficit target for 2023-24 is 5.9 percent of GDP, down from 6.4 percent of GDP in 2022-23.