That of the central government budget deficit end of May stood at 11.8% of budget estimates for FY24, according to official data.
The budget deficit was 12.3% of FY23 BE in the same period last year.
The budget deficit is the difference between total expenditure and government revenue. It is an indication of the total borrowing the government needs.
In real terms, the deficit was ₹2,10,287 crore at the end of May 2023, according to data from the Comptroller General of Accounts (CGA).
In the Union budget, the government aimed to reduce the budget deficit in the current fiscal year 24 to 5.9% of gross domestic product (GDP).
The deficit was 6.4% of GDP in FY23, compared to an earlier estimate of 6.71%.
Unveiling the Union Government revenue and expenditure data for the first two months of FY24, CGA said net tax revenue was ₹2.78 lakh crore or 11.9% of BE.
Its total expenditure was ₹6.25 lakh crore or 13.9% of the estimates presented in the Union budget for the current financial year.
According to the budget, the budget deficit at the end of March 2024 is estimated at ₹17.86 lakh crore.
