India's April-August fiscal deficit recorded at 32.6% of FY23 target

Sabnavis said the progress till August shows that the government's accounts are on course compared with last year

The Centre’s fiscal deficit for April-August FY23 came in at Rs 5.4 trillion, or 32.6 per cent of the Budget Estimate (BE) of Rs 16.6 trillion, official data showed on Friday.

This compares to a fiscal deficit of Rs 4.68 trillion for the same period last year, which was 31.1 per cent of the FY23 target.

The Centre is targeting a fiscal deficit for the year at 6.4 per cent of nominal gross domestic product.

Net tax revenue for the April-August FY23 period came in at Rs 7 trillion, some 8.5 per cent higher than the amount gathered for the