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Budget 2022-23: Centre may not target sharp fiscal correction

Budget-makers are confident that the net tax collection's Budget target (direct plus indirect) of Rs 15.45 trillion will be exceeded

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Non-tax revenue is also expected to be healthy due to the surplus from the Reserve Bank of India and dividends from state-owned entities

Arup Roychoudhury New Delhi

4 min read Last Updated : Dec 20 2021 | 6:08 AM IST

While presenting her 2021-22 Union Budget, Finance Minister Nirmala Sitharaman had set a fiscal deficit target of 6.8 per cent of nominal gross domestic product (GDP) against the 2020-21 Revised Estimate of 9.5 per cent. The fiscal correction in the upcoming 2022-23 Union Budget is unlikely to be that steep.

Even as discussions among top Budget-makers are ongoing, the fiscal deficit target for 2022-23 may likely be in the range of 6.5-6.8 per cent. This draws from two factors.

First, the Centre is unlikely to meet this year’s fiscal deficit target due to a higher expenditure burden, and also the divestment target

Topics : Fiscal Deficit Indian Economy Budget 2022 Budget Union Budget