Fiscal Deficit For 2023-24 Pegged At 5.9% Of GDP: Nirmala Sitharaman

The government has projected the fiscal deficit for 2023-24 at 5.9% of the GDP, said Finance Minister Nirmala Sitharaman while presenting the Union Budget 2023-24 in the Parliament.

Earlier, it was widely expected that central government would lower its fiscal deficit while providing incentives for investment and boost state spending to support an economy that is entangled in the global slowdown.

Meanwhile, the capital investment outlay has been increased by 33 per cent to Rs 10 lakh crore, which will account for 3.3 per cent of the GDP.

The FM added that the 50-year interest-free loan to state governments will continue for a year more.

The Budget 2023 seeks to emphasise on seven priorities, which the Finance Minister called the "Saptrishis guiding us through Amrit Kaal".