Union Budget fixes fiscal deficit target for 2023-24 at 5.9% of GDP

The Union Budget has fixed the fiscal deficit target for 2023-24 at 5.9 percent of GDP. This would represent a reduction of 50 basis points from this year's fiscal deficit target of 6.4 percent, which Finance Minister said would be met. The Centre's fiscal deficit for the first nine months of 2022-23 accounted for 59.8 percent of the full-year target.

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