NEW DELHI: India's fiscal deficit will unexpectedly rise to 6.9 per cent of GDP in the current fiscal and it is being targeted to be cut to 6.4 per cent in the next financial year.
The fiscal deficit or the gap between expenditure and revenue was estimated at 6.8 per cent of the gross domestic product (GDP) in the current financial year ending March 31, 2022.
Total expenditure during the current year is estimated at Rs 39.45 lakh crore while total resources mobilisation would be Rs 22.84 lakh crore, Finance Minister Nirmala Sitharaman said while unveiling Budget 2022-23 in the Lok Sabha on Tuesday.