Business Standard

Govt may not amend FRBM Act again, but aims for 5.5-6% deficit in FY24

The Finance Ministry is likely to stick to its internal fiscal consolidation roadmap

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Union Finance Minister Nirmala Sitharaman speaks in the Lok Sabha

Arup Roychoudhury New Delhi
The central government is unlikely bring any amendments to the Fiscal Responsibility and Budget Management Act for the third year in a row as it expects that the impact of the global slowdown on the Indian economy in 2023 may impact expenditure commitments in financial year 2023-24 (FY24), Business Standard has learnt.

However, the Finance Ministry is likely to stick to its internal fiscal consolidation roadmap and the 2023 Union Budget may target a fiscal deficit of between 5.5-6 percent of nominal GDP in FY24. The roadmap aims for a fiscal deficit target of 4.5 percent of GDP by

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First Published: Jan 18 2023 | 11:11 PM IST

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