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Govt deficit, debt moderated in FY23
The general government deficit and debt moderated to 9.4 per cent and 86.5 per cent of GDP
New Delhi: The general government deficit and debt moderated to 9.4 per cent and 86.5 per cent of GDP, respectively, in 2022-23 from the peak levels of 13.1 per cent and 89.4 per cent in 2020-21 respectively, the Reserve Bank of India has noted in its annual report for 2022-23.
"While committing to credible fiscal consolidation, the government has led the revival in investment cycle through augmented capital expenditure, recognising its multiplier effects by crowding-in private investment and lifting the economy's growth potential," it said while commenting on government finances.
