Budget 2023: FM sticks to fiscal road map, targets deficit of 5.9% in FY24

The fiscal deficit is the difference between the government's expenditure and revenues when the former is higher

Union Finance Minister Nirmala Sitharaman on Wednesday said in her Budget speech the Central government was expected to achieve its fiscal deficit target of 6.4 per cent this fiscal year (FY23), and is targeting a fiscal deficit of 5.9 per cent for FY24.

“In my Budget Speech for 2021-22, I had announced we plan to continue the path of fiscal consolidation, reaching a fiscal deficit below 4.5 per cent by 2025-26 with a fairly steady decline over the period. We have adhered to this path, and I reiterate my intention to bring the fiscal deficit below 4.5 per cent of