India's fiscal deficit for FY24 likely to be better than expected

Govt capex for the last financial year also in line with projections, say sources

The Centre’s fiscal deficit for 2023-24 (FY24) is expected to be slightly better than the projected Rs 17.34 trillion in absolute terms, sources informed. The government had narrowed its fiscal deficit target for FY24 to 5.8 per cent of gross domestic product (GDP) in the Revised Estimates (RE).

The RE was lower than the budgeted fiscal deficit estimate of 5.9 per cent of GDP. India’s fiscal deficit between April and February in FY24 reached Rs 15.01 trillion, or 86.5 per cent of the full-year revised target of Rs 17.34 trillion, according to the Controller General of Accounts data.
 

“Some extra tax receipts