India’s budget deficit for 2021-22 at 6.7% of GDP

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The revenue shortfall at the end of 2021-22 was 4.37%.

New Delhi:

The budget deficit for 2021-22 stood at 6.71% of gross domestic product (GDP), lower than the 6.9% projected by the Ministry of Finance in the revised budget forecast, according to government data released on Tuesday.

Unveiling the Union Government revenue and expenditure data for 2020-21, the Comptroller General (CGA) said the budget deficit in absolute terms was Rs 15,86,537 crore (provisional).

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The revenue shortfall at the end of 2021-22 was 4.37%.

For the last financial year, the government initially set the budget deficit at 6.8% of GDP in the budget presented in February 2021.

The government, in the revised budget estimates for 2022-23, projects a higher budget deficit of 6.9% of GDP or Rs 15,91,089 crore for the fiscal year ending March.

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