The Centre’s fiscal deficit at the end of the first quarter touched ______ of the full-year target.   In absolute terms, the fiscal deficit was Rs 4,51,370 crore as of end-June,2023.

Solution

The Centre’s fiscal deficit at the end of the first quarter touched 25.3 per cent of the full-year target. In absolute terms, the fiscal deficit was Rs 4,51,370 crore as of end-June,2023.    The deficit stood at 21.2 percent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23.     Of the total expenditure, Rs 7.72 lakh crore was on the revenue account and Rs 2.78 lakh crore was towards the capital account. Of the total revenue expenditure, Rs 2,43,705 crore was on interest payments and Rs 87,035 crore on major subsidies.