Budget 2023: India's Gross Fiscal Deficit Challenge
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It reduced to 6.72% in FY22 due to economic recovery after the lockdown, but still remained higher than anything in the past decade.
Gross fiscal deficit has peaked to 9.18% of GDP in FY21 due to covid led lockdown. It reduced to 6.72% in FY22 due to economic recovery after the lockdown, but still remained higher than anything in the past decade. Gross Fiscal Deficit is expected to be 4.4% in FY23.
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