Revenue and Expenditure:
India’s economic growth in the current year is estimated to be 9.2 per cent, the highest among all large economies.
The outlay for capital expenditure has been stepped up sharply by 35.4 per cent from Rs 5.54 lakh crore in the current year to Rs 7.50 lakh crore in 2022-23. This investment taken together with the provision made for the creation of capital assets through Grants-in-Aid to States, the ‘Effective Capital Expenditure’ of the Central Government is estimated at Rs 10.68 lakh crore in 2022-23, which will be about 4.1 per cent of GDP.
The revised Fiscal Deficit in the current year is estimated at 6.9 per cent of GDP.
The Fiscal Deficit in 2022-23 is estimated at 6.4 per cent of GDP, which is consistent with the broad path of fiscal consolidation to reach a fiscal deficit level below 4.5 per cent by 2025-26.